Lion Electric (NYSE:LEV) PT Lowered to $1.40 at CIBC

Lion Electric (NYSE:LEV) had its target price dropped by investment analysts at CIBC from $1.70 to $1.40 in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price objective points to a potential upside of 50.07% from the company’s previous close.

LEV has been the subject of a number of other reports. DA Davidson cut their price objective on Lion Electric from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. National Bankshares cut their price target on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating for the company in a report on Friday, March 1st. Finally, Desjardins lowered Lion Electric from a “buy” rating to a “hold” rating and cut their price objective for the stock from $4.00 to $2.50 in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Lion Electric currently has an average rating of “Hold” and a consensus target price of $2.34.

Lion Electric Stock Performance

Shares of Lion Electric stock traded down $0.02 during trading on Monday, hitting $0.93. 1,037,829 shares of the company’s stock were exchanged, compared to its average volume of 523,802. The stock has a market capitalization of $211.00 million, a price-to-earnings ratio of -2.02 and a beta of 2.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 2.45. The business has a 50-day simple moving average of $1.40 and a 200-day simple moving average of $1.63. Lion Electric has a 52-week low of $0.92 and a 52-week high of $2.68.

Lion Electric (NYSE:LEV) last posted its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $93.39 million. On average, research analysts forecast that Lion Electric will post -0.25 EPS for the current year.

Hedge Funds Weigh In On Lion Electric

Hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new stake in shares of Lion Electric in the fourth quarter valued at $28,000. Alpine Global Management LLC purchased a new stake in shares of Lion Electric in the 3rd quarter valued at approximately $34,000. Barclays PLC purchased a new stake in shares of Lion Electric during the 2nd quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after acquiring an additional 12,712 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Lion Electric by 50.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock worth $61,000 after buying an additional 10,610 shares during the last quarter. Hedge funds and other 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.