Lion Electric (TSE:LEV) Shares Down 8.4%

The Lion Electric Company (TSE:LEV) shares dropped 8.4% on Wednesday . The company traded as low as C$1.28 and last traded at C$1.31. Approximately 346,726 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 317,169 shares. The stock had previously closed at C$1.43.

Analysts Set New Price Targets

Separately, Desjardins downgraded Lion Electric from a “buy” rating to a “hold” rating in a report on Friday, March 1st.

Lion Electric Price Performance

The company’s 50-day simple moving average is C$1.67 and its 200-day simple moving average is C$2.11. The company has a debt-to-equity ratio of 88.29, a quick ratio of 1.33 and a current ratio of 2.45. The company has a market capitalization of C$296.35 million, a PE ratio of -2.27 and a beta of 2.62.

Lion Electric (TSE:LEV) last posted its quarterly earnings data on Thursday, February 29th. The company reported C($0.17) EPS for the quarter, missing the consensus estimate of C($0.13) by C($0.04). Lion Electric had a negative net margin of 40.93% and a negative return on equity of 26.07%. The company had revenue of C$82.28 million for the quarter, compared to analysts’ expectations of C$128.31 million. As a group, sell-side analysts anticipate that The Lion Electric Company will post -0.48 earnings per share for the current year.

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.