Lion Electric (NYSE:LEV) Price Target Cut to $1.00 by Analysts at BMO Capital Markets

Lion Electric (NYSE:LEV) had its price objective lowered by equities researchers at BMO Capital Markets from $2.00 to $1.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 0.20% from the company’s previous close.

Other analysts have also recently issued reports about the company. DA Davidson decreased their price objective on Lion Electric from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Roth Mkm decreased their price objective on Lion Electric from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday. National Bankshares decreased their price target on Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a report on Friday, March 1st. Desjardins lowered shares of Lion Electric from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $4.00 to $2.50 in a research note on Friday, March 1st. Finally, CIBC decreased their price target on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating for the company in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Lion Electric presently has an average rating of “Hold” and an average price target of $1.99.

Lion Electric Price Performance

LEV stock traded up $0.03 during midday trading on Thursday, hitting $1.00. The company’s stock had a trading volume of 141,316 shares, compared to its average volume of 528,865. Lion Electric has a 12 month low of $0.88 and a 12 month high of $2.68. The company has a quick ratio of 0.73, a current ratio of 2.45 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $225.73 million, a price-to-earnings ratio of -2.17 and a beta of 2.12. The company has a 50 day moving average of $1.21 and a two-hundred day moving average of $1.55.

Lion Electric (NYSE:LEV) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $60.43 million for the quarter, compared to analysts’ expectations of $93.39 million. Lion Electric had a negative return on equity of 22.01% and a negative net margin of 40.93%. On average, analysts expect that Lion Electric will post -0.25 EPS for the current year.

Hedge Funds Weigh In On Lion Electric

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in Lion Electric in the fourth quarter valued at approximately $28,000. Alpine Global Management LLC acquired a new stake in Lion Electric in the third quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lion Electric by 75.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after acquiring an additional 12,712 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Lion Electric by 50.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after acquiring an additional 10,610 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Lion Electric by 20.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock valued at $183,000 after acquiring an additional 17,285 shares in the last quarter. 52.73% of the stock is currently owned by institutional investors.

Lion Electric Company Profile

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.