Roth Mkm Reaffirms Buy Rating for Lion Electric (NYSE:LEV)

Roth Mkm restated their buy rating on shares of Lion Electric (NYSE:LEV) in a research report released on Tuesday, Benzinga reports. Roth Mkm currently has a $2.50 price target on the stock, down from their previous price target of $5.00.

LEV has been the topic of a number of other reports. National Bankshares lowered their target price on shares of Lion Electric from $2.25 to $1.75 and set a sector perform rating on the stock in a research report on Friday, March 1st. CIBC lowered their price objective on shares of Lion Electric from $1.70 to $1.40 and set a neutral rating on the stock in a research report on Monday. DA Davidson lowered their price objective on shares of Lion Electric from $4.00 to $3.50 and set a buy rating on the stock in a research report on Tuesday, March 5th. Finally, Desjardins lowered shares of Lion Electric from a buy rating to a hold rating and lowered their price objective for the company from $4.00 to $2.50 in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Lion Electric currently has an average rating of Hold and an average target price of $2.34.

Lion Electric Stock Down 3.9 %

Shares of LEV opened at $0.91 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 2.45. The company’s 50 day simple moving average is $1.35 and its 200-day simple moving average is $1.61. Lion Electric has a 12-month low of $0.88 and a 12-month high of $2.68.

Lion Electric (NYSE:LEV) last announced its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $60.43 million for the quarter, compared to analysts’ expectations of $93.39 million. Lion Electric had a negative return on equity of 22.01% and a negative net margin of 40.93%. Sell-side analysts expect that Lion Electric will post -0.25 earnings per share for the current year.

Institutional Investors Weigh In On Lion Electric

Institutional investors have recently made changes to their positions in the stock. Alpine Global Management LLC purchased a new stake in shares of Lion Electric during the 3rd quarter worth $34,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of Lion Electric by 50.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock worth $61,000 after purchasing an additional 10,610 shares in the last quarter. Lake Street Financial LLC boosted its position in shares of Lion Electric by 59.2% during the 3rd quarter. Lake Street Financial LLC now owns 60,265 shares of the company’s stock worth $115,000 after purchasing an additional 22,400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Lion Electric by 9.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock worth $366,000 after purchasing an additional 16,683 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Lion Electric by 7.0% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock worth $479,000 after purchasing an additional 16,356 shares in the last quarter. 52.73% of the stock is currently owned by hedge funds and other 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.