Lion Electric (TSE:LEV) Trading Down 15% – Should You Sell?

Shares of The Lion Electric Company (TSE:LEV) were down 15% during mid-day trading on Tuesday . The stock traded as low as C$0.34 and last traded at C$0.34. Approximately 76,810 shares changed hands during trading, a decline of 76% from the average daily volume of 324,917 shares. The stock had previously closed at C$0.40.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Roth Capital cut Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Desjardins decreased their price objective on Lion Electric from C$1.50 to C$1.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. DA Davidson downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. National Bankshares lowered their price target on shares of Lion Electric from C$1.00 to C$0.80 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Finally, CIBC dropped their price objective on shares of Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating for the company in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$0.82.

Lion Electric Trading Down 13.8 %

The company has a debt-to-equity ratio of 118.61, a quick ratio of 1.33 and a current ratio of 2.49. The company has a market capitalization of C$78.05 million, a price-to-earnings ratio of -0.56 and a beta of 2.59. The firm has a fifty day moving average price of C$0.85 and a 200-day moving average price of C$1.09.

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.