Lion Electric (NYSE:LEV) Reaches New 52-Week Low at $3.34

The Lion Electric Company (NYSE:LEVGet Rating) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $3.34 and last traded at $3.34, with a volume of 9136 shares changing hands. The stock had previously closed at $3.47.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LEV. Veritas Investment Research began coverage on Lion Electric in a research report on Thursday, August 25th. They set a “sell” rating for the company. Raymond James lowered their target price on Lion Electric from $7.50 to $5.00 and set a “market perform” rating for the company in a research report on Monday, August 8th. National Bankshares lowered their target price on Lion Electric from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, August 8th. CIBC lowered Lion Electric from a “sector outperform” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Thursday, June 2nd. Finally, DA Davidson began coverage on Lion Electric in a research report on Tuesday, June 28th. They set a “buy” rating and a $7.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.95.

Lion Electric Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.59 and a current ratio of 3.57. The stock has a fifty day simple moving average of $4.44 and a two-hundred day simple moving average of $5.62. The stock has a market capitalization of $617.51 million, a price-to-earnings ratio of 3.46 and a beta of 2.24.

Lion Electric (NYSE:LEVGet Rating) last issued its earnings results on Friday, August 5th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $29.52 million during the quarter, compared to the consensus estimate of $30.38 million. Lion Electric had a negative return on equity of 10.16% and a net margin of 219.51%. Analysts forecast that The Lion Electric Company will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Lion Electric

Several large investors have recently made changes to their positions in the company. Power Corp of Canada acquired a new stake in shares of Lion Electric in the 1st quarter valued at about $565,330,000. Invesco Ltd. boosted its stake in Lion Electric by 3.9% during the 4th quarter. Invesco Ltd. now owns 2,465,533 shares of the company’s stock valued at $24,507,000 after purchasing an additional 91,445 shares during the last quarter. Bank of Montreal Can boosted its stake in Lion Electric by 44.0% during the 4th quarter. Bank of Montreal Can now owns 998,862 shares of the company’s stock valued at $9,808,000 after purchasing an additional 304,974 shares during the last quarter. Pembroke Management LTD boosted its stake in Lion Electric by 3.3% during the 1st quarter. Pembroke Management LTD now owns 600,720 shares of the company’s stock valued at $6,308,000 after purchasing an additional 19,138 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Lion Electric during the 2nd quarter valued at about $2,127,000. 43.83% of the stock is currently owned by institutional investors and hedge funds.

About Lion Electric

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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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