Lion Electric (NYSE:LEV) PT Lowered to $1.40 at CIBC

Lion Electric (NYSE:LEV) had its target price decreased by CIBC from $1.70 to $1.40 in a research note published on Monday morning, Marketbeat.com reports. CIBC currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on the company. Desjardins cut Lion Electric from a buy rating to a hold rating and decreased their price objective for the company from $4.00 to $2.50 in a research note on Friday, March 1st. National Bankshares decreased their target price on Lion Electric from $2.25 to $1.75 and set a sector perform rating for the company in a research note on Friday, March 1st. Finally, DA Davidson decreased their target price on Lion Electric from $4.00 to $3.50 and set a buy rating for the company in a research note on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $2.34.

Lion Electric Stock Performance

NYSE LEV opened at $0.94 on Monday. The company has a market cap of $213.08 million, a P/E ratio of -2.05 and a beta of 2.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.45 and a quick ratio of 0.73. The stock has a 50-day moving average of $1.36 and a two-hundred day moving average of $1.61. Lion Electric has a 1-year low of $0.92 and a 1-year high of $2.68.

Lion Electric (NYSE:LEV) last released its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $60.43 million during the quarter, compared to analyst estimates of $93.39 million. Lion Electric had a negative net margin of 40.93% and a negative return on equity of 22.01%. As a group, analysts anticipate that Lion Electric will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Lion Electric

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEV. Victory Capital Management Inc. acquired a new position in shares of Lion Electric in the fourth quarter valued at approximately $28,000. Alpine Global Management LLC acquired a new position in shares of Lion Electric in the third quarter valued at approximately $34,000. Barclays PLC acquired a new position in shares of Lion Electric in the second quarter valued at approximately $36,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Lion Electric by 75.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after purchasing an additional 12,712 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Lion Electric by 50.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after purchasing an additional 10,610 shares during the period. Hedge funds and other institutional investors own 52.73% of the company’s stock.

Lion Electric Company Profile

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