DA Davidson Trims Lion Electric (NYSE:LEV) Target Price to $4.00

Lion Electric (NYSE:LEV – Get Rating) had its price objective cut by equities research analysts at DA Davidson from $5.00 to $4.00 in a research report issued on Monday, The Fly reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s target price suggests a potential upside of 85.19% from the company’s previous close.

A number of other research firms have also weighed in on LEV. Northland Securities assumed coverage on Lion Electric in a research note on Tuesday, December 27th. They set an “outperform” rating and a $5.00 price objective for the company. Barclays assumed coverage on Lion Electric in a research note on Tuesday, February 14th. They set an “equal weight” rating and a $3.00 price objective for the company. Raymond James dropped their price objective on Lion Electric from $5.00 to $4.50 and set a “market perform” rating for the company in a research note on Monday, November 14th. Finally, B. Riley dropped their price objective on Lion Electric from $5.00 to $4.00 in a research note on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Lion Electric currently has a consensus rating of “Hold” and an average target price of $5.40.

Lion Electric Stock Performance

NYSE:LEV opened at $2.16 on Monday. The business has a 50 day moving average of $2.37 and a 200 day moving average of $2.74. The company has a market capitalization of $420.57 million, a price-to-earnings ratio of 24.00 and a beta of 2.16. Lion Electric has a 1-year low of $1.83 and a 1-year high of $9.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.18 and a quick ratio of 1.37.

Institutional Trading of Lion Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its stake 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 during the period. Van Hulzen Asset Management LLC purchased a new stake in Lion Electric in the third quarter worth $38,000. Cornerstone Investment Partners LLC purchased a new stake in Lion Electric in the third quarter worth $121,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Lion Electric by 17.3% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 36,775 shares of the company’s stock worth $105,000 after purchasing an additional 5,419 shares in the last quarter. Finally, Allworth Financial LP bought a new position in Lion Electric in the third quarter worth $46,000. Hedge funds and other institutional investors own 43.71% of the company’s stock.

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.