CIBC Lowers Lion Electric (NYSE:LEV) Price Target to $1.40

Lion Electric (NYSE:LEV) had its price objective decreased by investment analysts at CIBC from $1.70 to $1.40 in a research note issued on Monday, Marketbeat Ratings reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s target price points to a potential upside of 49.43% from the company’s current price.

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

Lion Electric Trading Down 1.4 %

LEV opened at $0.94 on Monday. The company has a current ratio of 2.45, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62. The firm has a market cap of $211.91 million, a price-to-earnings ratio of -2.04 and a beta of 2.00. Lion Electric has a 12 month low of $0.92 and a 12 month high of $2.68. The stock has a fifty day moving average price of $1.38 and a 200-day moving average price of $1.62.

Lion Electric (NYSE:LEV) last announced its earnings results on Thursday, February 29th. The company reported ($0.12) 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 the consensus estimate of $93.39 million. As a group, equities research analysts anticipate that Lion Electric will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Lion Electric

Large investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lion Electric by 50.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock worth $61,000 after purchasing an additional 10,610 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after acquiring an additional 12,712 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Lion Electric in the 4th quarter valued at $28,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings 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 acquiring an additional 16,356 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Lion Electric by 9.5% during the third 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 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.