The Lion Electric Company (NYSE:LEV) Receives $13.92 Average Target Price from Brokerages

The Lion Electric Company (NYSE:LEVGet Rating) has earned an average recommendation of “Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.92.

Several analysts recently weighed in on the company. Canaccord Genuity Group cut their price target on Lion Electric from $12.00 to $8.00 in a research note on Thursday, May 5th. Raymond James cut their price target on Lion Electric from $11.00 to $7.50 and set a “market perform” rating on the stock in a research note on Thursday, May 5th. Zacks Investment Research upgraded Lion Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price target on the stock in a research note on Tuesday, May 3rd. National Bank Financial cut their price target on Lion Electric from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 2nd. Finally, National Bankshares cut their price target on Lion Electric from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 2nd.

Shares of LEV stock traded up $0.14 during midday trading on Friday, reaching $5.35. 767,746 shares of the stock were exchanged, compared to its average volume of 673,505. Lion Electric has a 1 year low of $4.73 and a 1 year high of $23.45. The company’s 50 day moving average is $7.33 and its two-hundred day moving average is $8.97. The firm has a market cap of $1.01 billion, a PE ratio of -14.08 and a beta of 2.00.

Lion Electric (NYSE:LEVGet Rating) last posted its earnings results on Thursday, February 24th. The company reported ($0.04) earnings per share for the quarter. Lion Electric had a negative return on equity of 10.19% and a negative net margin of 33.87%. The firm had revenue of $22.87 million for the quarter. As a group, research analysts forecast that Lion Electric will post -0.31 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in LEV. CIBC Asset Management Inc lifted its holdings in shares of Lion Electric by 2.4% during the 1st quarter. CIBC Asset Management Inc now owns 89,598 shares of the company’s stock valued at $753,000 after buying an additional 2,114 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Lion Electric during the 4th quarter valued at $26,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Lion Electric by 61.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 12,172 shares of the company’s stock valued at $154,000 after buying an additional 4,652 shares during the period. Shell Asset Management Co. bought a new position in shares of Lion Electric during the 4th quarter valued at $48,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Lion Electric by 31.5% during the 1st quarter. Wolverine Asset Management LLC now owns 20,629 shares of the company’s stock valued at $173,000 after buying an additional 4,940 shares during the period.

Lion Electric Company Profile (Get Rating)

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.

Further Reading

Analyst Recommendations for Lion Electric (NYSE:LEV)

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