Lion Electric (TSE:LEV) Trading Down 4.4% – Here’s What Happened

The Lion Electric Company (TSE:LEV)’s stock price traded down 4.4% on Thursday . The company traded as low as C$0.86 and last traded at C$0.87. 232,791 shares changed hands during trading, a decline of 27% from the average session volume of 318,220 shares. The stock had previously closed at C$0.91.

Analyst Ratings Changes

Several equities analysts recently issued reports on LEV shares. DA Davidson cut Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Roth Capital downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Desjardins reduced their target price on shares of Lion Electric from C$1.50 to C$1.00 and set a “hold” rating for the company in a report on Thursday, August 1st. B. Riley upgraded shares of Lion Electric to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, CIBC reduced their price objective on Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lion Electric presently has an average rating of “Hold” and a consensus target price of C$0.82.

Lion Electric Trading Down 1.1 %

The firm has a market cap of C$201.34 million, a P/E ratio of -1.27 and a beta of 2.59. The stock has a 50 day simple moving average of C$0.94 and a 200-day simple moving average of C$1.25. The company has a current ratio of 2.49, a quick ratio of 1.33 and a debt-to-equity ratio of 118.61.

Lion Electric (TSE:LEV) last posted its earnings results on Wednesday, July 31st. The company reported C($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.17) by C($0.08). Lion Electric had a negative return on equity of 31.53% and a negative net margin of 51.81%. The business had revenue of C$41.43 million during the quarter, compared to the consensus estimate of C$84.15 million. On average, equities research analysts expect that The Lion Electric Company will post -0.48 EPS for the current fiscal year.

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.