BMO Capital Markets Cuts Lion Electric (NYSE:LEV) Price Target to $0.60

Lion Electric (NYSE:LEV) had its target price lowered by BMO Capital Markets from $0.80 to $0.60 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

LEV has been the subject of a number of other research reports. DA Davidson reissued a “neutral” rating and set a $1.00 target price (down previously from $1.50) on shares of Lion Electric in a research report on Monday, August 12th. Roth Capital downgraded shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $1.46.

Lion Electric Stock Up 16.4 %

LEV stock opened at $0.40 on Friday. The stock has a market capitalization of $91.35 million, a P/E ratio of -0.68 and a beta of 2.14. The company has a current ratio of 1.12, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52. Lion Electric has a 12 month low of $0.32 and a 12 month high of $1.99. The firm has a 50-day moving average price of $0.67 and a 200-day moving average price of $0.81.

Lion Electric (NYSE:LEV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $30.63 million during the quarter, compared to the consensus estimate of $34.33 million. Lion Electric had a negative return on equity of 32.42% and a negative net margin of 74.35%. During the same period last year, the company posted ($0.10) EPS. As a group, equities research analysts anticipate that Lion Electric will post -0.44 EPS for the current fiscal year.

Institutional Trading of Lion Electric

Several large investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in Lion Electric in the 2nd quarter valued at $62,000. XTX Topco Ltd acquired a new stake in Lion Electric in the 2nd quarter valued at $40,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Lion Electric by 14.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after purchasing an additional 30,050 shares during the period. Institutional investors and hedge funds own 52.73% of the company’s stock.

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.