Lion Electric (NYSE:LEV) Price Target Cut to $0.60 by Analysts at BMO Capital Markets

Lion Electric (NYSE:LEV) had its price objective decreased by BMO Capital Markets from $0.80 to $0.60 in a research note released on Friday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

LEV has been the subject of several other research reports. Roth Capital lowered shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. DA Davidson reaffirmed a “neutral” rating and set a $1.00 price objective (down previously from $1.50) on shares of Lion Electric in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $1.46.

Lion Electric Stock Down 15.8 %

NYSE LEV traded down $0.07 during mid-day trading on Friday, reaching $0.35. 1,340,444 shares of the company’s stock traded hands, compared to its average volume of 190,761. The company has a current ratio of 2.49, a quick ratio of 0.53 and a debt-to-equity ratio of 0.82. Lion Electric has a 1-year low of $0.32 and a 1-year high of $1.99. The company has a fifty day simple moving average of $0.67 and a 200-day simple moving average of $0.82. The company has a market cap of $78.50 million, a price-to-earnings ratio of -0.57 and a beta of 2.14.

Lion Electric (NYSE:LEV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $30.63 million for the quarter, compared to the consensus estimate of $34.33 million. Lion Electric had a negative return on equity of 31.12% and a negative net margin of 74.35%. During the same period in the previous year, the business posted ($0.10) EPS. As a group, equities research analysts expect that Lion Electric will post -0.42 EPS for the current year.

Institutional Trading of Lion Electric

Several large investors have recently added to or reduced their stakes in LEV. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Lion Electric by 14.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after purchasing an additional 30,050 shares in the last quarter. XTX Topco Ltd acquired a new position in Lion Electric during the 2nd quarter valued at about $40,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Lion Electric during the 2nd quarter worth about $62,000. 52.73% of the stock is currently owned by institutional investors and hedge funds.

About Lion Electric

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. The company's products include battery systems, chassis, bus bodies, and truck cabins. It distributes truck and bus parts, as well as accessories.