Lion Electric (NYSE:LEV) Downgraded by National Bank Financial

Lion Electric (NYSE:LEV) was downgraded by research analysts at National Bank Financial from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research note issued to investors on Wednesday, Zacks.com reports.

A number of other equities research analysts have also commented on LEV. Barclays reduced their price target on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Thursday. DA Davidson reduced their target price on Lion Electric from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Desjardins lowered shares of Lion Electric from a “buy” rating to a “hold” rating and lowered their price target for the stock from $4.00 to $2.50 in a report on Friday, March 1st. National Bankshares dropped their price target on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a research report on Friday, March 1st. Finally, BMO Capital Markets decreased their price objective on shares of Lion Electric from $2.00 to $1.00 and set a “market perform” rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Lion Electric currently has a consensus rating of “Hold” and an average target price of $1.99.

Lion Electric Stock Down 1.8 %

Shares of NYSE:LEV opened at $0.95 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 2.45. Lion Electric has a 52-week low of $0.88 and a 52-week high of $2.68. The company has a market capitalization of $214.89 million, a PE ratio of -2.07 and a beta of 2.12. The company has a fifty day moving average of $1.20 and a 200-day moving average of $1.55.

Lion Electric (NYSE:LEV) last issued its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Lion Electric had a negative return on equity of 22.01% and a negative net margin of 40.93%. The firm had revenue of $60.43 million during the quarter, compared to analyst estimates of $93.39 million. On average, equities analysts predict that Lion Electric will post -0.25 EPS for the current fiscal year.

Institutional Trading of Lion Electric

Several hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Lion Electric by 7.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock worth $479,000 after acquiring an additional 16,356 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Lion Electric by 9.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock worth $366,000 after purchasing an additional 16,683 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Lion Electric by 20.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock valued at $183,000 after buying an additional 17,285 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Lion Electric by 50.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after buying an additional 10,610 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lion Electric by 75.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after buying an additional 12,712 shares in the last quarter. Institutional investors own 52.73% of the company’s stock.

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.