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

Shares of The Lion Electric Company (NYSE:LEV) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $1.46.

A number of brokerages recently commented on LEV. BMO Capital Markets decreased their target price on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research report on Friday, November 8th. DA Davidson restated a “neutral” rating and set a $1.00 price objective (down previously from $1.50) on shares of Lion Electric in a report on Monday, August 12th. Finally, Roth Capital cut Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st.

Lion Electric Price Performance

Lion Electric stock opened at $0.21 on Thursday. The stock’s 50 day moving average price is $0.57 and its two-hundred day moving average price is $0.76. The stock has a market capitalization of $47.85 million, a price-to-earnings ratio of -0.36 and a beta of 2.14. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.30 and a current ratio of 1.12. Lion Electric has a 52-week low of $0.18 and a 52-week high of $1.99.

Lion Electric (NYSE:LEV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Lion Electric had a negative return on equity of 32.42% and a negative net margin of 74.35%. The company had revenue of $30.63 million during the quarter, compared to analyst estimates of $34.33 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, equities analysts predict that Lion Electric will post -0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Lion Electric by 14.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after buying an additional 30,050 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Lion Electric in the second quarter valued at approximately $62,000. Finally, XTX Topco Ltd purchased a new stake in shares of Lion Electric during the second quarter valued at approximately $40,000. 52.73% of the stock is currently 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.