Lion Electric (TSE:LEV) Price Target Cut to C$1.00 by Analysts at Desjardins

Lion Electric (TSE:LEV) had its target price trimmed by Desjardins from C$1.50 to C$1.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

Other analysts also recently issued research reports about the company. B. Riley upgraded Lion Electric to a strong-buy rating in a research note on Tuesday, June 25th. CIBC lowered their price objective on Lion Electric from C$1.15 to C$0.65 and set a neutral rating on the stock in a research report on Thursday. National Bank Financial cut Lion Electric from a sec perform spec market wgt rating to an underperform spec market wgt rating in a research report on Wednesday, May 8th. Finally, National Bankshares lowered their price objective on Lion Electric from C$1.00 to C$0.80 and set an underperform rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of C$0.82.

Lion Electric Stock Down 7.9 %

Shares of LEV stock traded down C$0.07 during midday trading on Thursday, reaching C$0.82. 411,372 shares of the stock were exchanged, compared to its average volume of 345,000. Lion Electric has a 1 year low of C$0.80 and a 1 year high of C$3.18. The company’s 50 day moving average is C$1.32 and its two-hundred day moving average is C$1.68. The company has a current ratio of 2.65, a quick ratio of 1.33 and a debt-to-equity ratio of 104.69. The firm has a market cap of C$185.50 million, a PE ratio of -1.33 and a beta of 2.74.

Lion Electric (TSE:LEV) last posted its earnings results on Wednesday, May 8th. The company reported C($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of C($0.10) by C$0.08. The firm had revenue of C$74.80 million for the quarter, compared to the consensus estimate of C$97.28 million. Lion Electric had a negative return on equity of 28.75% and a negative net margin of 43.21%. On average, equities research analysts predict that Lion Electric will post -0.48 EPS for the current year.

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.