Lion Electric (NYSE:LEV) Price Target Cut to $7.50 by Analysts at Raymond James

Lion Electric (NYSE:LEVGet Rating) had its price target cut by stock analysts at Raymond James from $11.00 to $7.50 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ price objective indicates a potential upside of 26.90% from the stock’s current price.

Several other brokerages have also commented on LEV. Canaccord Genuity Group dropped their price target on shares of Lion Electric from $12.00 to $8.00 in a research note on Thursday. Zacks Investment Research upgraded shares of Lion Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price target on the stock in a research note on Tuesday. BMO Capital Markets lowered shares of Lion Electric from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $22.00 to $7.00 in a research note on Thursday, February 24th. National Bankshares decreased their price objective on Lion Electric from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, February 2nd. Finally, Canaccord Genuity Group began coverage on Lion Electric in a report on Tuesday, March 8th. They issued a “buy” rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $13.92.

Shares of Lion Electric stock opened at $5.91 on Thursday. Lion Electric has a 52 week low of $5.82 and a 52 week high of $23.45. The firm’s 50 day moving average is $7.58 and its two-hundred day moving average is $9.25.

Lion Electric (NYSE:LEVGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.04) EPS for the quarter. The company had revenue of $22.87 million during the quarter. Lion Electric had a negative net margin of 33.87% and a negative return on equity of 10.19%. Analysts anticipate that Lion Electric will post -0.23 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. purchased a new position in Lion Electric in the fourth quarter worth $26,000. Shell Asset Management Co. purchased a new position in shares of Lion Electric in the fourth quarter valued at $48,000. Wells Fargo & Company MN purchased a new position in shares of Lion Electric in the second quarter valued at $110,000. Toronto Dominion Bank increased its position in shares of Lion Electric by 9,901.8% in the fourth quarter. Toronto Dominion Bank now owns 5,701 shares of the company’s stock valued at $56,000 after buying an additional 5,644 shares in the last quarter. Finally, Citigroup Inc. purchased a new position in shares of Lion Electric in the third quarter valued at $117,000.

About Lion Electric (Get Rating)

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. Its products include battery systems, chassis, bus bodies, and truck cabins. The company also distributes truck and bus parts, as well as accessories.

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Analyst Recommendations for Lion Electric (NYSE:LEV)

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