Lion Electric (NYSE:LEV) Hits New 12-Month Low at $3.34

The Lion Electric Company (NYSE:LEVGet Rating)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $3.34 and last traded at $3.34, with a volume of 9136 shares. The stock had previously closed at $3.47.

Analysts Set New Price Targets

LEV has been the topic of several recent analyst reports. Veritas Investment Research initiated coverage on shares of Lion Electric in a research report on Thursday, August 25th. They set a “sell” rating on the stock. Roth Capital started coverage on shares of Lion Electric in a research report on Friday, June 10th. They set a “buy” rating and a $13.00 target price on the stock. DA Davidson started coverage on shares of Lion Electric in a report on Tuesday, June 28th. They issued a “buy” rating and a $7.00 price target on the stock. CIBC cut shares of Lion Electric from a “sector outperform” rating to a “neutral” rating and set a $9.00 price target on the stock. in a report on Thursday, June 2nd. Finally, National Bankshares lowered their price target on shares of Lion Electric from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lion Electric currently has an average rating of “Hold” and an average price target of $9.95.

Lion Electric Price Performance

The firm has a market capitalization of $617.51 million, a PE ratio of 3.46 and a beta of 2.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.59 and a current ratio of 3.57. The business’s 50 day moving average is $4.44 and its two-hundred day moving average is $5.62.

Lion Electric (NYSE:LEVGet Rating) last released its quarterly earnings results on Friday, August 5th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $29.52 million during the quarter, compared to analyst estimates of $30.38 million. Lion Electric had a net margin of 219.51% and a negative return on equity of 10.16%. Equities research analysts anticipate that The Lion Electric Company will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Prelude Capital Management LLC purchased a new position in shares of Lion Electric during the 2nd quarter valued at $52,000. Goldman Sachs Group Inc. grew its position in Lion Electric by 501.6% in the second quarter. Goldman Sachs Group Inc. now owns 310,891 shares of the company’s stock worth $1,309,000 after acquiring an additional 259,213 shares in the last quarter. State Street Corp purchased a new position in Lion Electric in the second quarter worth $1,517,000. Renaissance Technologies LLC purchased a new position in Lion Electric in the second quarter worth $2,127,000. Finally, Toronto Dominion Bank grew its position in Lion Electric by 575.1% in the second quarter. Toronto Dominion Bank now owns 39,150 shares of the company’s stock worth $165,000 after acquiring an additional 33,351 shares in the last quarter. 43.83% of the stock is currently owned by hedge funds and other institutional investors.

Lion Electric Company Profile

(Get Rating)

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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