BMO Capital Markets Lowers Lion Electric (NYSE:LEV) Price Target to $0.60

Lion Electric (NYSE:LEV) had its price target cut by BMO Capital Markets from $0.80 to $0.60 in a research report sent to investors on Friday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other brokerages have also recently issued reports on LEV. DA Davidson reiterated a “neutral” rating and issued a $1.00 target price (down from $1.50) on shares of Lion Electric in a report on Monday, August 12th. Roth Capital lowered shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $1.46.

Lion Electric Trading Down 15.8 %

NYSE:LEV opened at $0.35 on Friday. The firm has a fifty day simple moving average of $0.67 and a two-hundred day simple moving average of $0.82. Lion Electric has a 12 month low of $0.32 and a 12 month high of $1.99. The stock has a market capitalization of $78.50 million, a price-to-earnings ratio of -0.59 and a beta of 2.14. The company has a current ratio of 1.12, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52.

Lion Electric (NYSE:LEV) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $30.63 million during the quarter, compared to the consensus estimate of $34.33 million. Lion Electric had a negative net margin of 74.35% and a negative return on equity of 32.42%. During the same period in the previous year, the firm earned ($0.10) earnings per share. Analysts expect that Lion Electric will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund grew its position in Lion Electric by 14.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after purchasing an additional 30,050 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Lion Electric in the 2nd quarter worth approximately $40,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Lion Electric in the second quarter valued at approximately $62,000. 52.73% of the stock is owned by institutional investors.

About Lion Electric

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.