Short Interest in The Lion Electric Company (NYSE:LEV) Declines By 21.2%

The Lion Electric Company (NYSE:LEV) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 2,310,000 shares, a decrease of 21.2% from the November 15th total of 2,930,000 shares. Based on an average daily volume of 5,450,000 shares, the short-interest ratio is currently 0.4 days. Approximately 1.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets reduced their price objective on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1.46.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lion Electric stock. XTX Topco Ltd acquired a new stake in shares of The Lion Electric Company (NYSE:LEV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 43,969 shares of the company’s stock, valued at approximately $40,000. Institutional investors and hedge funds own 52.73% of the company’s stock.

Lion Electric Price Performance

LEV stock traded down $0.09 during trading on Monday, reaching $0.24. The company’s stock had a trading volume of 4,480,555 shares, compared to its average volume of 1,818,844. Lion Electric has a 1 year low of $0.18 and a 1 year high of $1.99. The company has a quick ratio of 0.30, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $55.33 million, a P/E ratio of -0.41 and a beta of 1.84. The company’s fifty day moving average is $0.45 and its 200-day moving average is $0.69.

Lion Electric (NYSE:LEV) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Lion Electric had a negative net margin of 74.35% and a negative return on equity of 32.42%. The company had revenue of $30.63 million for the quarter, compared to the consensus estimate of $34.33 million. During the same period last year, the company earned ($0.10) EPS. On average, research analysts expect that Lion Electric will post -0.53 earnings per share for the current fiscal year.

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.