Lion Electric (TSE:LEV) Stock Price Up 11.1% – Time to Buy?

The Lion Electric Company (TSE:LEV)’s share price was up 11.1% during mid-day trading on Thursday . The company traded as high as C$0.30 and last traded at C$0.30. Approximately 381,469 shares were traded during trading, an increase of 12% from the average daily volume of 339,941 shares. The stock had previously closed at C$0.27.

Analysts Set New Price Targets

Several brokerages have recently commented on LEV. Desjardins lowered their price target on shares of Lion Electric from C$1.50 to C$1.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. DA Davidson cut shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. CIBC reduced their price target on Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Roth Capital lowered Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, National Bankshares decreased their target price on Lion Electric from C$1.00 to C$0.80 and set an “underperform” rating for the company in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lion Electric currently has a consensus rating of “Hold” and a consensus price target of C$0.82.

Lion Electric Trading Down 9.4 %

The company has a fifty day simple moving average of C$0.82 and a two-hundred day simple moving average of C$1.07. The stock has a market capitalization of C$65.60 million, a P/E ratio of -0.45 and a beta of 2.59. The company has a quick ratio of 1.33, a current ratio of 2.49 and a debt-to-equity ratio of 118.61.

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.