CIBC Trims Lion Electric (NYSE:LEV) Target Price to $1.40

Lion Electric (NYSE:LEV) had its price objective decreased by CIBC from $1.70 to $1.40 in a research note released on Monday morning, MarketBeat Ratings reports. CIBC currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the company. DA Davidson decreased their target price on Lion Electric from $4.00 to $3.50 and set a buy rating on the stock in a report on Tuesday, March 5th. National Bankshares decreased their target price 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. Finally, Desjardins cut Lion Electric from a buy rating to a hold rating and decreased their target price for the stock from $4.00 to $2.50 in a report on Friday, March 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Lion Electric has a consensus rating of Hold and an average price target of $2.34.

Lion Electric Stock Down 3.9 %

LEV opened at $0.91 on Monday. Lion Electric has a 12 month low of $0.88 and a 12 month high of $2.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.45 and a quick ratio of 0.73. The stock has a market cap of $206.51 million, a P/E ratio of -1.98 and a beta of 2.00. The stock’s 50 day moving average price is $1.35 and its 200 day moving average price is $1.61.

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

Institutional Investors Weigh In On Lion Electric

Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in Lion Electric during the fourth quarter valued at approximately $28,000. Alpine Global Management LLC acquired a new stake in Lion Electric during the third quarter valued at approximately $34,000. Barclays PLC acquired a new stake in Lion Electric during the second quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lion Electric by 75.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after purchasing an additional 12,712 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Lion Electric by 50.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after purchasing an additional 10,610 shares in the last quarter. 52.73% of the stock is owned by institutional investors and hedge funds.

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.