Lion Electric (NYSE:LEV) Issues Quarterly Earnings Results

Lion Electric (NYSE:LEV) issued its earnings results on Wednesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02), Zacks reports. The company had revenue of $30.63 million during the quarter, compared to analyst estimates of $34.33 million. Lion Electric had a negative return on equity of 31.12% and a negative net margin of 74.35%. During the same period last year, the business earned ($0.10) earnings per share.

Lion Electric Trading Down 15.8 %

NYSE LEV traded down $0.07 during trading on Friday, hitting $0.35. The stock had a trading volume of 1,340,444 shares, compared to its average volume of 190,761. The company has a quick ratio of 0.53, a current ratio of 2.49 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $78.50 million, a PE ratio of -0.59 and a beta of 2.14. The firm has a 50 day moving average price of $0.67 and a 200 day moving average price of $0.82. Lion Electric has a twelve month low of $0.32 and a twelve month high of $1.99.

Wall Street Analysts Forecast Growth

LEV has been the subject of several recent analyst reports. BMO Capital Markets cut their price objective on shares of Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research report on Friday. Roth Capital cut Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, DA Davidson restated a “neutral” rating and issued a $1.00 target price (down previously from $1.50) on shares of Lion Electric in a research report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1.46.

Lion Electric Company Profile

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.