The Lion Electric Company (NYSE:LEV) Forecasted to Post FY2023 Earnings of ($0.45) Per Share

The Lion Electric Company (NYSE:LEV – Get Rating) – Research analysts at Raymond James issued their FY2023 earnings per share (EPS) estimates for shares of Lion Electric in a report issued on Monday, March 13th. Raymond James analyst M. Glen expects that the company will post earnings of ($0.45) per share for the year. Raymond James currently has a “Market Perform” rating and a $2.50 price target on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.33) per share. Raymond James also issued estimates for Lion Electric’s FY2024 earnings at ($0.21) EPS.

Several other equities research analysts have also recently commented on the company. Northland Securities began coverage on Lion Electric in a research note on Tuesday, December 27th. They issued an “outperform” rating and a $5.00 price target for the company. B. Riley lowered their price target on Lion Electric from $5.00 to $4.00 in a research note on Wednesday, December 14th. Barclays began coverage on Lion Electric in a research note on Tuesday, February 14th. They issued an “equal weight” rating and a $3.00 price target for the company. National Bankshares decreased their target price on Lion Electric from $3.50 to $3.00 and set an “outperform” rating for the company in a research report on Monday. Finally, DA Davidson decreased their target price on Lion Electric from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.40.

Lion Electric Trading Down 2.5 %

Shares of NYSE LEV opened at $1.99 on Thursday. The stock has a market cap of $387.47 million, a price-to-earnings ratio of 22.11 and a beta of 2.16. The business has a 50 day simple moving average of $2.37 and a 200 day simple moving average of $2.71. Lion Electric has a 52 week low of $1.83 and a 52 week high of $9.21. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 3.99.

Institutional Investors Weigh In On Lion Electric

Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank boosted its position in shares of Lion Electric by 575.1% in the second quarter. Toronto Dominion Bank now owns 39,150 shares of the company’s stock valued at $165,000 after acquiring an additional 33,351 shares during the period. Van Hulzen Asset Management LLC bought a new stake in shares of Lion Electric in the third quarter valued at approximately $38,000. Wolverine Asset Management LLC boosted its position in shares of Lion Electric by 21.6% in the third quarter. Wolverine Asset Management LLC now owns 28,065 shares of the company’s stock valued at $80,000 after acquiring an additional 4,985 shares during the period. Cornerstone Investment Partners LLC bought a new stake in shares of Lion Electric in the third quarter valued at approximately $121,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of 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 valued at $105,000 after acquiring an additional 5,419 shares during the period. 43.71% of the stock is owned by institutional investors.

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.