Lion Electric (NYSE:LEV) Releases Earnings Results, Misses Estimates By $0.02 EPS

Lion Electric (NYSE:LEV) released its quarterly earnings data on Wednesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02), Zacks reports. Lion Electric had a negative net margin of 74.35% and a negative return on equity of 31.12%. The business had revenue of $30.63 million for the quarter, compared to analysts’ expectations of $34.33 million. During the same period last year, the business earned ($0.10) earnings per share.

Lion Electric Stock Performance

Shares of Lion Electric stock traded down $0.07 on Friday, hitting $0.35. 1,340,444 shares of the company’s stock were exchanged, compared to its average volume of 190,761. Lion Electric has a 1 year low of $0.32 and a 1 year high of $1.99. The company has a 50-day simple moving average of $0.67 and a 200-day simple moving average of $0.82. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.53 and a current ratio of 2.49. The stock has a market capitalization of $78.50 million, a PE ratio of -0.59 and a beta of 2.14.

Wall Street Analysts Forecast Growth

LEV has been the topic of several research analyst reports. Roth Capital cut shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. 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 research report on Monday, August 12th. Finally, BMO Capital Markets dropped their target price on shares of Lion Electric from $0.80 to $0.60 and set a “market perform” rating on the stock in a report on Friday. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $1.46.

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.