Lion Electric (NYSE:LEV) Given New $0.60 Price Target at BMO Capital Markets

Lion Electric (NYSE:LEV) had its target price decreased by BMO Capital Markets from $0.80 to $0.60 in a research report sent to investors on Friday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Roth Capital lowered shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. DA Davidson reissued a “neutral” rating and set a $1.00 target price (down from $1.50) on shares of Lion Electric in a research note on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1.46.

Lion Electric Price Performance

Shares of NYSE:LEV traded down $0.07 on Friday, reaching $0.35. 1,340,444 shares of the company traded hands, compared to its average volume of 190,761. The stock has a market capitalization of $78.50 million, a PE ratio of -0.57 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 company’s 50 day moving average is $0.67 and its 200-day moving average is $0.82. Lion Electric has a fifty-two week low of $0.32 and a fifty-two week high of $1.99.

Lion Electric (NYSE:LEV) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $30.63 million during the quarter, compared to analyst estimates of $34.33 million. Lion Electric had a negative net margin of 74.35% and a negative return on equity of 31.12%. During the same quarter last year, the business earned ($0.10) EPS. As a group, analysts anticipate that Lion Electric will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lion Electric

Several large investors have recently made changes to their positions in LEV. Cubist Systematic Strategies LLC acquired a new stake in Lion Electric in the second quarter valued at approximately $62,000. XTX Topco Ltd bought a new position in shares of Lion Electric during the 2nd quarter valued at $40,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted 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 valued at $341,000 after purchasing an additional 30,050 shares during the last quarter. Institutional investors own 52.73% of the company’s stock.

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.