Lion Electric (NYSE:LEV) Downgraded to Hold at Roth Capital

Roth Capital lowered shares of Lion Electric (NYSE:LEV) from a strong-buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

Several other brokerages have also commented on LEV. B. Riley raised Lion Electric to a strong-buy rating in a report on Tuesday, June 25th. BMO Capital Markets dropped their price objective on shares of Lion Electric from $2.00 to $1.00 and set a market perform rating for the company in a report on Thursday, May 9th. National Bank Financial cut Lion Electric from a sec perform spec market wgt rating to an underperform spec market wgt rating in a research note on Wednesday, May 8th. CIBC cut their price objective on Lion Electric from $1.70 to $1.40 and set a neutral rating for the company in a report on Monday, April 22nd. Finally, Roth Mkm decreased their price objective on Lion Electric from $2.50 to $2.00 and set a buy rating on the stock in a report on Thursday, May 9th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $1.74.

Lion Electric Stock Performance

NYSE LEV opened at $0.62 on Wednesday. Lion Electric has a twelve month low of $0.62 and a twelve month high of $2.54. The stock has a fifty day simple moving average of $0.96 and a 200 day simple moving average of $1.23. The company has a quick ratio of 0.73, a current ratio of 2.65 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $139.17 million, a price-to-earnings ratio of -1.26 and a beta of 2.14.

Lion Electric (NYSE:LEV) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. Lion Electric had a negative net margin of 51.81% and a negative return on equity of 25.26%. The firm had revenue of $55.48 million for the quarter, compared to the consensus estimate of $71.82 million. Sell-side analysts expect that Lion Electric will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Lion Electric

Several hedge funds and other institutional investors have recently modified their holdings of LEV. Victory Capital Management Inc. purchased a new position in shares of Lion Electric during the fourth quarter valued at approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Lion Electric by 75.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after purchasing an additional 12,712 shares during the period. Atria Wealth Solutions Inc. lifted its position in shares of Lion Electric by 20.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after purchasing an additional 17,285 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Lion Electric by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after buying an additional 30,050 shares during the period. 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.