Lion Electric (NYSE:LEV) Price Target Lowered to $1.00 at Barclays

Lion Electric (NYSE:LEV) had its price target decreased by equities researchers at Barclays from $2.00 to $1.00 in a report released on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 0.20% from the stock’s current price.

LEV has been the topic of a number of other research reports. CIBC lowered their price target on Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets lowered their target price on Lion Electric from $2.00 to $1.00 and set a “market perform” rating on the stock in a report on Thursday. Roth Mkm lowered their target price on Lion Electric from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday. Desjardins cut Lion Electric from a “buy” rating to a “hold” rating and lowered their target price for the company from $4.00 to $2.50 in a report on Friday, March 1st. Finally, DA Davidson lowered their target price on Lion Electric from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $1.99.

Lion Electric Stock Performance

NYSE LEV traded up $0.03 on Thursday, hitting $1.00. 141,316 shares of the company’s stock were exchanged, compared to its average volume of 528,865. 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 firm’s 50-day moving average price is $1.21 and its two-hundred day moving average price is $1.55. Lion Electric has a fifty-two week low of $0.88 and a fifty-two week high of $2.68. The firm has a market cap of $225.73 million, a price-to-earnings ratio of -2.17 and a beta of 2.12.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LEV. Alpine Global Management LLC purchased a new position in Lion Electric in the third quarter valued at approximately $34,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Lion Electric by 50.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after acquiring an additional 10,610 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Lion Electric by 9.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock valued at $366,000 after acquiring an additional 16,683 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Lion Electric by 7.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock worth $479,000 after purchasing an additional 16,356 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Lion Electric in the 4th quarter valued at $28,000. 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.