Lion Electric’s (LEV) Buy Rating Reaffirmed at Roth Mkm

Lion Electric (NYSE:LEV)‘s stock had its “buy” rating reaffirmed by Roth Mkm in a research note issued on Tuesday, Benzinga reports. They currently have a $2.50 target price on the stock, down from their prior target price of $5.00. Roth Mkm’s target price would suggest a potential upside of 167.27% from the stock’s previous close.

LEV has been the topic of a number of other reports. National Bankshares dropped their target price on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. Desjardins downgraded shares of Lion Electric from a “buy” rating to a “hold” rating and lowered their target price for the company from $4.00 to $2.50 in a research note on Friday, March 1st. DA Davidson decreased their price target on shares of Lion Electric from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, March 5th. 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 report on Monday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.34.

Lion Electric Stock Performance

NYSE:LEV traded down $0.01 during trading hours on Tuesday, reaching $0.94. The company had a trading volume of 756,585 shares, compared to its average volume of 519,764. The company has a current ratio of 2.45, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. Lion Electric has a 52 week low of $0.92 and a 52 week high of $2.68. The firm has a market cap of $211.57 million, a price-to-earnings ratio of -2.05 and a beta of 2.00. The firm’s 50 day moving average price is $1.40 and its 200-day moving average price is $1.63.

Lion Electric (NYSE:LEV) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $60.43 million during 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 forecast that Lion Electric will post -0.25 EPS for the current year.

Hedge Funds Weigh In On Lion Electric

A number of institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Lion Electric by 7.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock worth $479,000 after purchasing an additional 16,356 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Lion Electric by 9.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock valued at $366,000 after acquiring an additional 16,683 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Lion Electric by 20.1% in the 4th 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 during the period. Lake Street Financial LLC raised its stake in shares of Lion Electric by 59.2% in the 3rd quarter. Lake Street Financial LLC now owns 60,265 shares of the company’s stock valued at $115,000 after acquiring an additional 22,400 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Lion Electric by 50.0% in the 3rd 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 during the period. 52.73% of the stock is owned by hedge funds and other 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.