Lion Electric (NYSE:LEV) Rating Increased to Strong-Buy at B. Riley

Lion Electric (NYSE:LEV) was upgraded by B. Riley to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

LEV has been the topic of a number of other research reports. CIBC decreased their price objective on Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets decreased their price objective on Lion Electric from $2.00 to $1.00 and set a “market perform” rating on the stock in a report on Thursday, May 9th. Barclays decreased their price objective on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Desjardins lowered Lion Electric from a “buy” rating to a “hold” rating and decreased their price objective for the company from $4.00 to $2.50 in a report on Friday, March 1st. Finally, National Bankshares cut their target price on Lion Electric from $2.25 to $1.75 and set a “sector perform” rating for the company in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lion Electric has a consensus rating of “Moderate Buy” and an average price target of $1.74.

Lion Electric Stock Performance

Shares of NYSE:LEV opened at $0.90 on Tuesday. Lion Electric has a 1 year low of $0.88 and a 1 year high of $2.68. The firm has a market capitalization of $203.57 million, a price-to-earnings ratio of -1.84 and a beta of 2.17. 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 business’s 50 day moving average price is $1.01 and its 200-day moving average price is $1.40.

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

Institutional Trading of Lion Electric

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in shares of Lion Electric during the 4th quarter worth about $28,000. Alpine Global Management LLC acquired a new stake in shares of Lion Electric during the 3rd quarter worth about $34,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after purchasing an additional 12,712 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Lion Electric by 20.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after purchasing an additional 17,285 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Lion Electric by 14.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after purchasing an additional 30,050 shares during the last quarter. 52.73% of the stock is owned by institutional investors and hedge funds.

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.