National Bank Financial Comments on The Lion Electric Company’s Q2 2023 Earnings (NYSE:LEV)

The Lion Electric Company (NYSE:LEV – Get Rating) – Investment analysts at National Bank Financial issued their Q2 2023 earnings estimates for Lion Electric in a research note issued on Sunday, March 12th. National Bank Financial analyst R. Merer forecasts that the company will post earnings per share of ($0.13) for the quarter. The consensus estimate for Lion Electric’s current full-year earnings is ($0.39) per share. National Bank Financial also issued estimates for Lion Electric’s Q3 2023 earnings at ($0.12) EPS and Q4 2023 earnings at ($0.10) EPS.

LEV has been the subject of a number of other reports. Raymond James dropped their price objective on shares of Lion Electric from $4.50 to $2.50 and set a “market perform” rating for the company in a research note on Tuesday. National Bankshares dropped their price objective on shares of Lion Electric from $3.50 to $3.00 and set an “outperform” rating for the company in a research note on Monday. Northland Securities started coverage on shares of Lion Electric in a research note on Tuesday, December 27th. They set an “outperform” rating and a $5.00 price objective for the company. B. Riley decreased their target price on shares of Lion Electric from $5.00 to $4.00 in a research report on Wednesday, December 14th. Finally, Barclays initiated coverage on shares of Lion Electric in a report on Tuesday, February 14th. They issued an “equal weight” rating and a $3.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.40.

Lion Electric Trading Down 0.9 %

Shares of Lion Electric stock opened at $2.16 on Tuesday. The company has a current ratio of 3.18, a quick ratio of 1.37 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $2.37 and a two-hundred day moving average of $2.74. Lion Electric has a 12-month low of $1.83 and a 12-month high of $9.21. The stock has a market cap of $420.57 million, a PE ratio of 24.00 and a beta of 2.16.

Hedge Funds Weigh In On Lion Electric

Several hedge funds and other institutional investors have recently made changes to their positions in LEV. Power Corp of Canada increased its position in shares of Lion Electric by 14.6% in the 4th quarter. Power Corp of Canada now owns 77,143,685 shares of the company’s stock worth $172,802,000 after purchasing an additional 9,842,519 shares during the last quarter. Marshall Wace LLP increased its position in shares of Lion Electric by 2,691.8% in the 3rd quarter. Marshall Wace LLP now owns 775,613 shares of the company’s stock worth $2,218,000 after purchasing an additional 747,831 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Lion Electric in the 2nd quarter worth about $2,127,000. State Street Corp bought a new stake in shares of Lion Electric during the 2nd quarter valued at about $1,517,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Lion Electric by 501.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 310,891 shares of the company’s stock valued at $1,309,000 after buying an additional 259,213 shares during the last quarter. Institutional investors and hedge funds own 43.71% of the company’s stock.

About Lion Electric

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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.