Lion Electric (NYSE:LEV) Receives Neutral Rating from DA Davidson

Lion Electric (NYSE:LEV)‘s stock had its “neutral” rating reissued by investment analysts at DA Davidson in a research report issued on Monday, MarketBeat reports. They currently have a $1.00 price target on the stock, down from their previous price target of $1.50. DA Davidson’s price target indicates a potential upside of 73.40% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. National Bank Financial lowered shares of Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a report on Wednesday, May 8th. Roth Mkm decreased their target price on Lion Electric from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. CIBC dropped their target price on Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Barclays decreased their price target on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Finally, Roth Capital downgraded shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.52.

Lion Electric Trading Up 4.9 %

Shares of LEV stock opened at $0.58 on Monday. The company has a quick ratio of 0.73, a current ratio of 2.49 and a debt-to-equity ratio of 0.82. Lion Electric has a fifty-two week low of $0.53 and a fifty-two week high of $2.35. The firm’s 50 day moving average price is $0.88 and its two-hundred day moving average price is $1.16. The stock has a market cap of $130.44 million, a price-to-earnings ratio of -1.18 and a beta of 2.14.

Hedge Funds Weigh In On Lion Electric

Several institutional investors and hedge funds have recently made changes to their positions in LEV. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lion Electric by 75.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after acquiring an additional 12,712 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Lion Electric in the 4th quarter worth about $28,000. Atria Wealth Solutions Inc. raised 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 valued at $183,000 after purchasing an additional 17,285 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of 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 during the last quarter. Finally, XTX Topco Ltd acquired a new position in Lion Electric in the second quarter worth about $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.