Lion Electric (NYSE:LEV) Upgraded by B. Riley to Strong-Buy

B. Riley upgraded shares of Lion Electric (NYSE:LEV) to a strong-buy rating in a report released on Tuesday morning, Zacks.com reports.

Several other brokerages also recently issued reports on LEV. BMO Capital Markets cut their target price on shares of Lion Electric from $2.00 to $1.00 and set a market perform rating for the company in a research note on Thursday, May 9th. DA Davidson lowered their price target on shares of Lion Electric from $3.50 to $1.50 and set a buy rating on the stock in a report on Monday, May 13th. Roth Mkm lowered their price target on shares of Lion Electric from $2.50 to $2.00 and set a buy rating on the stock in a report on Thursday, May 9th. Barclays lowered their price target on shares of Lion Electric from $2.00 to $1.00 and set an equal weight rating on the stock in a report on Thursday, May 9th. Finally, National Bank Financial cut shares of Lion Electric from a sec perform spec market wgt rating to an underperform spec market wgt rating in a report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $1.74.

Lion Electric Stock Performance

Lion Electric stock opened at $0.90 on Tuesday. The firm has a 50-day moving average of $1.01 and a 200-day moving average of $1.40. Lion Electric has a one year low of $0.88 and a one year high of $2.68. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.65 and a quick ratio of 0.73. The company has a market cap of $203.57 million, a price-to-earnings ratio of -1.84 and a beta of 2.17.

Lion Electric (NYSE:LEV) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. Lion Electric had a negative net margin of 43.21% and a negative return on equity of 18.99%. The company had revenue of $55.48 million during the quarter, compared to the consensus estimate of $71.82 million. On average, equities analysts expect that Lion Electric will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Alpine Global Management LLC bought a new position in Lion Electric in the third quarter valued at approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank increased 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 during the last quarter. Atria Wealth Solutions Inc. increased 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 during the last quarter. Victory Capital Management Inc. bought a new position in Lion Electric in the fourth quarter valued at approximately $28,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Lion Electric by 14.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after acquiring an additional 30,050 shares during the last quarter. 52.73% of the stock is owned by 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.