B. Riley Comments on The Lion Electric Company’s Q2 2024 Earnings (NYSE:LEV)

The Lion Electric Company (NYSE:LEV) – Analysts at B. Riley issued their Q2 2024 EPS estimates for shares of Lion Electric in a research note issued on Tuesday, June 25th. B. Riley analyst R. Pfingst expects that the company will post earnings per share of ($0.14) for the quarter. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.31) per share. B. Riley also issued estimates for Lion Electric’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.33) EPS and FY2025 earnings at $0.01 EPS.

Lion Electric (NYSE:LEV) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $55.48 million during the quarter, compared to analyst estimates of $71.82 million. Lion Electric had a negative net margin of 43.21% and a negative return on equity of 18.99%.

Other analysts have also issued research reports about the stock. Barclays lowered their price objective 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. BMO Capital Markets lowered their price objective 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 objective on shares of Lion Electric from $3.50 to $1.50 and set a “buy” rating for the company in a research note on Monday, May 13th. Roth Mkm lowered their price objective 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. Finally, CIBC lowered their price objective on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1.74.

Lion Electric Stock Performance

NYSE:LEV opened at $0.91 on Friday. The company has a fifty day moving average of $1.01 and a 200-day moving average of $1.38. The firm has a market capitalization of $205.51 million, a P/E ratio of -1.85 and a beta of 2.17. The company has a quick ratio of 0.73, a current ratio of 2.65 and a debt-to-equity ratio of 0.74. Lion Electric has a twelve month low of $0.84 and a twelve month high of $2.68.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in shares of Lion Electric in the 4th quarter worth $28,000. Alpine Global Management LLC bought a new stake in shares of Lion Electric in the 3rd quarter worth $34,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Lion Electric by 75.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after acquiring an additional 12,712 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake 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 worth $183,000 after acquiring an additional 17,285 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of 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 worth $341,000 after acquiring an additional 30,050 shares in the last quarter. Institutional investors and hedge funds own 52.73% of the company’s stock.

Lion Electric Company Profile

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.