Lion Electric (NYSE:LEV) Earns “Buy” Rating from Roth Mkm

Lion Electric (NYSE:LEV)‘s stock had its “buy” rating reaffirmed by Roth Mkm in a note issued to investors on Tuesday, Benzinga reports. They currently have a $2.50 price target on the stock, down from their prior price target of $5.00. Roth Mkm’s target price would suggest a potential upside of 165.36% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. DA Davidson dropped their price objective on shares of 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 Lion Electric from a “buy” rating to a “hold” rating and cut their price target for the stock from $4.00 to $2.50 in a report on Friday, March 1st. National Bankshares decreased their price objective on 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, CIBC cut their target price on Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.34.

Lion Electric Stock Performance

LEV stock opened at $0.94 on Tuesday. The firm has a market cap of $213.08 million, a PE ratio of -2.05 and a beta of 2.00. 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 stock has a 50-day moving average price of $1.36 and a 200-day moving average price of $1.61. Lion Electric has a 1-year low of $0.92 and a 1-year high of $2.68.

Lion Electric (NYSE:LEV) last issued its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 22.01% and a negative net margin of 40.93%. As a group, equities research analysts expect that Lion Electric will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LEV. Victory Capital Management Inc. purchased a new position in shares of Lion Electric in the 4th quarter worth about $28,000. Atria Wealth Solutions Inc. boosted its stake in Lion Electric by 20.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock valued at $183,000 after acquiring an additional 17,285 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $52,000 after acquiring an additional 12,712 shares during the period. Alpine Global Management LLC bought a new stake in shares of Lion Electric in the 3rd quarter worth approximately $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Lion Electric by 9.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock valued at $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.