The Lion Electric Company (NYSE:LEV) Given Average Recommendation of “Hold” by Brokerages

Shares of The Lion Electric Company (NYSE:LEV) have earned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $2.36.

Several brokerages have commented on LEV. CIBC dropped their price objective on Lion Electric from $2.00 to $1.70 and set a “neutral” 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 cut their price target for the stock from $4.00 to $2.50 in a report on Friday, March 1st. National Bankshares decreased their price objective on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a report on Friday, March 1st. Finally, DA Davidson cut their target price on shares of Lion Electric from $4.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, March 5th.

Lion Electric Stock Performance

Shares of NYSE LEV opened at $1.07 on Wednesday. The company has a market capitalization of $242.02 million, a PE ratio of -2.33 and a beta of 2.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 2.45. The company’s fifty day moving average price is $1.46 and its 200 day moving average price is $1.65. Lion Electric has a 1 year low of $1.06 and a 1 year high of $2.68.

Lion Electric (NYSE:LEV) last posted its earnings results 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). Lion Electric had a negative return on equity of 22.01% and a negative net margin of 40.93%. The firm had revenue of $60.43 million for the quarter, compared to analysts’ expectations of $93.39 million. On average, research analysts predict that Lion Electric will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On Lion Electric

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Lion Electric by 17.5% during the first quarter. Vanguard Group Inc. now owns 34,022 shares of the company’s stock worth $285,000 after buying an additional 5,061 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Lion Electric by 70.6% during the 4th quarter. Legal & General Group Plc now owns 13,880 shares of the company’s stock valued at $31,000 after acquiring an additional 5,744 shares during the last quarter. Credit Suisse AG grew its holdings in shares of Lion Electric by 6.5% in the second quarter. Credit Suisse AG now owns 98,273 shares of the company’s stock valued at $182,000 after purchasing an additional 5,959 shares during the period. Swiss National Bank increased its position in Lion Electric by 8.2% during the first quarter. Swiss National Bank now owns 112,700 shares of the company’s stock worth $946,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Bayesian Capital Management LP raised its stake in Lion Electric by 61.4% during the second quarter. Bayesian Capital Management LP now owns 22,600 shares of the company’s stock worth $42,000 after purchasing an additional 8,600 shares during the period. 52.73% of the stock is owned by hedge funds and other institutional investors.

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.