Wolverine Asset Management LLC Grows Stake in The Lion Electric Company (NYSE:LEV)

Wolverine Asset Management LLC raised its stake in The Lion Electric Company (NYSE:LEVGet Rating) by 31.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,629 shares of the company’s stock after acquiring an additional 4,940 shares during the period. Wolverine Asset Management LLC’s holdings in Lion Electric were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LEV. Bank of Montreal Can grew its stake in shares of Lion Electric by 44.0% in the fourth quarter. Bank of Montreal Can now owns 998,862 shares of the company’s stock worth $9,808,000 after acquiring an additional 304,974 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Lion Electric in the fourth quarter worth $2,965,000. Richelieu Gestion PLC purchased a new stake in shares of Lion Electric in the first quarter worth $2,402,000. Public Sector Pension Investment Board purchased a new stake in shares of Lion Electric in the fourth quarter worth $2,586,000. Finally, TD Asset Management Inc. grew its stake in shares of Lion Electric by 243.4% in the fourth quarter. TD Asset Management Inc. now owns 291,189 shares of the company’s stock worth $2,882,000 after acquiring an additional 206,402 shares during the last quarter.

Lion Electric Stock Performance

Shares of NYSE:LEV opened at $5.05 on Wednesday. The stock has a market capitalization of $959.50 million, a price-to-earnings ratio of -13.29 and a beta of 2.16. The stock’s 50-day simple moving average is $4.83 and its two-hundred day simple moving average is $6.61. The Lion Electric Company has a 52-week low of $4.07 and a 52-week high of $15.97.

Lion Electric (NYSE:LEVGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Lion Electric had a negative return on equity of 10.19% and a negative net margin of 33.87%. The firm had revenue of $22.65 million during the quarter, compared to analysts’ expectations of $21.33 million. As a group, equities analysts forecast that The Lion Electric Company will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group cut their target price on Lion Electric from $12.00 to $8.00 in a research note on Thursday, May 5th. Roth Capital initiated coverage on Lion Electric in a research report on Friday, June 10th. They set a “buy” rating and a $13.00 price objective on the stock. CIBC cut Lion Electric from a “sector outperform” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Thursday, June 2nd. Barclays dropped their price objective on Lion Electric from $17.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, May 19th. Finally, DA Davidson initiated coverage on Lion Electric in a research report on Tuesday, June 28th. They set a “buy” rating and a $7.00 price objective on the stock. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.55.

Lion Electric Company Profile

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The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. Its products include battery systems, chassis, bus bodies, and truck cabins. The company also distributes truck and bus parts, as well as accessories.

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Institutional Ownership by Quarter for Lion Electric (NYSE:LEV)

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