The Lion Electric Company (NYSE:LEV) Sees Large Increase in Short Interest

The Lion Electric Company (NYSE:LEV) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 4,660,000 shares, a growth of 9.4% from the July 31st total of 4,260,000 shares. Currently, 3.9% of the company’s shares are sold short. Based on an average trading volume of 363,100 shares, the days-to-cover ratio is currently 12.8 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on LEV. B. Riley upgraded shares of Lion Electric to a “strong-buy” rating in a research note on Tuesday, June 25th. Roth Capital downgraded shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Roth Mkm reduced their target price 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 dropped their price target on shares of Lion Electric from $2.00 to $1.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Finally, BMO Capital Markets cut their price objective on Lion Electric from $2.00 to $1.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Lion Electric presently has an average rating of “Hold” and a consensus target price of $1.52.

Lion Electric Trading Down 6.8 %

NYSE LEV opened at $0.75 on Tuesday. Lion Electric has a 52 week low of $0.53 and a 52 week high of $2.27. The firm has a 50 day moving average of $0.78 and a two-hundred day moving average of $1.05. The company has a quick ratio of 0.53, a current ratio of 2.49 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $170.31 million, a PE ratio of -1.54 and a beta of 2.14.

Lion Electric (NYSE:LEV) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $30.28 million for the quarter, compared to analysts’ expectations of $61.40 million. Lion Electric had a negative return on equity of 26.26% and a negative net margin of 51.81%. As a group, research analysts expect that Lion Electric will post -0.42 EPS for the current fiscal year.

Institutional Trading of Lion Electric

A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Lion Electric during the 2nd quarter worth about $62,000. XTX Topco Ltd purchased a new position in Lion Electric in the second quarter valued at approximately $40,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Lion Electric by 14.3% during the first 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 in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Lion Electric during the 4th quarter worth approximately $28,000. Finally, Atria Wealth Solutions Inc. boosted its holdings 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 buying an additional 17,285 shares in the last quarter. 52.73% of the stock is owned by hedge funds and other 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.