The Lion Electric Company (NYSE:LEV) Given Consensus Recommendation of “Hold” by Brokerages

The Lion Electric Company (NYSE:LEV) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $1.52.

Several analysts have recently weighed in on LEV shares. DA Davidson reissued a “neutral” rating and issued a $1.00 target price (down from $1.50) on shares of Lion Electric in a report on Monday, August 12th. Roth Capital downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st.

Hedge Funds Weigh In On Lion Electric

Several institutional investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund increased its position in 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 period. XTX Topco Ltd acquired a new position in Lion Electric during the 2nd quarter worth approximately $40,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Lion Electric during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 52.73% of the company’s stock.

Lion Electric Stock Down 2.5 %

Shares of NYSE LEV opened at $0.62 on Friday. The company has a market capitalization of $140.05 million, a price-to-earnings ratio of -1.26 and a beta of 2.14. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.49 and a quick ratio of 0.53. The business has a 50-day moving average of $0.70 and a two-hundred day moving average of $0.85. Lion Electric has a 1 year low of $0.53 and a 1 year high of $1.99.

Lion Electric (NYSE:LEV) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business 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%. On average, analysts forecast that Lion Electric will post -0.42 earnings per share for the current fiscal 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.