Lion Electric (TSE:LEV) Shares Up 11.1% – Still a Buy?

The Lion Electric Company (TSE:LEV)’s stock price was up 11.1% during mid-day trading on Thursday . The stock traded as high as C$0.30 and last traded at C$0.30. Approximately 381,469 shares changed hands during trading, an increase of 12% from the average daily volume of 339,941 shares. The stock had previously closed at C$0.27.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Desjardins reduced their price objective on Lion Electric from C$1.50 to C$1.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. National Bankshares cut their price objective on shares of Lion Electric from C$1.00 to C$0.80 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. DA Davidson downgraded shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. Roth Capital cut shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, CIBC reduced their price objective on shares of Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating for the company in a report 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 company. According to data from MarketBeat, Lion Electric has an average rating of “Hold” and an average target price of C$0.82.

Lion Electric Price Performance

The company has a debt-to-equity ratio of 118.61, a quick ratio of 1.33 and a current ratio of 2.49. The company has a 50-day moving average of C$0.84 and a 200-day moving average of C$1.08. The firm has a market capitalization of C$72.39 million, a price-to-earnings ratio of -0.38 and a beta of 2.59.

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.