Lion Electric (NYSE:LEV) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Lion Electric (NYSE:LEV) issued its quarterly earnings data on Wednesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02), Zacks reports. The company had revenue of $30.63 million during the quarter, compared to analysts’ expectations of $34.33 million. Lion Electric had a negative return on equity of 31.12% and a negative net margin of 74.35%. During the same quarter last year, the business earned ($0.10) earnings per share.

Lion Electric Stock Down 15.8 %

Lion Electric stock traded down $0.07 during mid-day trading on Friday, hitting $0.35. The company had a trading volume of 1,340,444 shares, compared to its average volume of 190,761. Lion Electric has a 12 month low of $0.32 and a 12 month high of $1.99. The company has a current ratio of 2.49, a quick ratio of 0.53 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $0.67 and its two-hundred day moving average price is $0.82. The company has a market capitalization of $78.50 million, a PE ratio of -0.57 and a beta of 2.14.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LEV. BMO Capital Markets decreased their target price on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research report on Friday. DA Davidson reiterated a “neutral” rating and issued a $1.00 price objective (down previously from $1.50) on shares of Lion Electric in a report on Monday, August 12th. Finally, Roth Capital cut shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lion Electric presently has a consensus rating of “Hold” and a consensus target price of $1.46.

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.