National Bank Financial Lowers Lion Electric (NYSE:LEV) to Underperform Spec Market Wgt

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

A number of other equities research analysts have also commented on LEV. CIBC decreased their price objective on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets lowered their price target on shares of Lion Electric from $2.00 to $1.00 and set a “market perform” rating for the company in a report on Thursday. Barclays reduced their price objective on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating on the stock in a report on Thursday. Roth Mkm lowered their target price on Lion Electric from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Desjardins lowered Lion Electric from a “buy” rating to a “hold” rating and cut their price target for the company from $4.00 to $2.50 in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $1.99.

Lion Electric Price Performance

Shares of Lion Electric stock opened at $0.95 on Wednesday. Lion Electric has a twelve month low of $0.88 and a twelve month high of $2.68. 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 firm has a market cap of $214.89 million, a P/E ratio of -2.07 and a beta of 2.12. The firm’s 50-day simple moving average is $1.20 and its 200-day simple moving average is $1.55.

Lion Electric (NYSE:LEV) last issued its quarterly earnings data 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). The business had revenue of $60.43 million during the quarter, compared to the consensus estimate of $93.39 million. Lion Electric had a negative net margin of 40.93% and a negative return on equity of 22.01%. As a group, research analysts expect that Lion Electric will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Alpine Global Management LLC acquired a new position in Lion Electric during the third quarter valued at approximately $34,000. Atria Wealth Solutions Inc. grew its holdings 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. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Lion Electric by 9.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock valued at $366,000 after buying an additional 16,683 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Lion Electric by 7.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock valued at $479,000 after buying an additional 16,356 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Lion Electric during the 4th quarter worth $28,000. 52.73% of the stock is currently owned by institutional investors.

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.