The Lion Electric Company (NYSE:LEV – Free Report) – Investment analysts at National Bank Financial boosted their FY2023 earnings per share (EPS) estimates for shares of Lion Electric in a research note issued on Tuesday, November 7th. National Bank Financial analyst R. Merer now anticipates that the company will post earnings of ($0.29) per share for the year, up from their previous estimate of ($0.37). National Bank Financial currently has a “Sec Perform Spec Market Wgt” rating on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.34) per share. National Bank Financial also issued estimates for Lion Electric’s Q4 2023 earnings at ($0.08) EPS and FY2024 earnings at ($0.22) EPS.
Several other equities analysts have also issued reports on the company. CIBC decreased their price objective on Lion Electric from $3.75 to $3.50 and set a “neutral” rating for the company in a research report on Friday, August 4th. DA Davidson decreased their price objective on Lion Electric from $4.00 to $3.00 in a research report on Monday, August 7th. BMO Capital Markets boosted their price objective on Lion Electric from $2.00 to $2.35 and gave the company a “market perform” rating in a research report on Friday, August 4th. Finally, National Bankshares lowered Lion Electric from an “outperform” rating to a “sector perform” rating and set a $2.75 price objective for the company. in a research report on Friday, August 4th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Lion Electric presently has an average rating of “Hold” and an average price target of $3.59.
Lion Electric Price Performance
Shares of LEV opened at $1.60 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.12 and a current ratio of 2.90. The stock has a 50 day simple moving average of $1.87 and a 200 day simple moving average of $2.04. Lion Electric has a 52-week low of $1.50 and a 52-week high of $3.73. The firm has a market capitalization of $361.89 million, a PE ratio of -6.96 and a beta of 2.18.
Institutional Investors Weigh In On Lion Electric
A number of institutional investors and hedge funds have recently made changes to their positions in LEV. Swiss National Bank raised its stake in shares of Lion Electric by 8.2% during the 1st quarter. Swiss National Bank now owns 112,700 shares of the company’s stock worth $946,000 after purchasing an additional 8,500 shares in the last quarter. BlackRock Inc. raised its stake in shares of Lion Electric by 195.4% during the 1st quarter. BlackRock Inc. now owns 33,999 shares of the company’s stock worth $286,000 after purchasing an additional 22,490 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Lion Electric by 4.1% during the 1st quarter. Cibc World Market Inc. now owns 231,079 shares of the company’s stock worth $1,941,000 after purchasing an additional 9,116 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lion Electric by 17.5% during the 1st quarter. Vanguard Group Inc. now owns 34,022 shares of the company’s stock worth $285,000 after purchasing an additional 5,061 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Lion Electric by 50.6% during the 1st quarter. Mackenzie Financial Corp now owns 42,773 shares of the company’s stock worth $360,000 after purchasing an additional 14,377 shares in the last quarter. Institutional investors own 51.06% of the company’s stock.
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 also distributes truck and bus parts, as well as accessories.
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