Short Interest in The Lion Electric Company (NYSE:LEV) Decreases By 9.5%

The Lion Electric Company (NYSE:LEV) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 4,020,000 shares, a decrease of 9.5% from the September 15th total of 4,440,000 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 265,300 shares, the short-interest ratio is currently 15.2 days.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LEV. B. Riley upgraded Lion Electric to a “strong-buy” rating in a research report on Tuesday, June 25th. Roth Capital lowered Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, DA Davidson reissued a “neutral” rating and issued a $1.00 price target (down from $1.50) on shares of Lion Electric in a report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lion Electric currently has a consensus rating of “Hold” and a consensus target price of $1.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEV. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Lion Electric by 14.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after buying an additional 30,050 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Lion Electric during the second quarter worth approximately $62,000. Finally, XTX Topco Ltd bought a new stake in shares of Lion Electric in the 2nd quarter worth approximately $40,000. 52.73% of the stock is currently owned by hedge funds and other institutional investors.

Lion Electric Stock Performance

NYSE:LEV opened at $0.68 on Thursday. Lion Electric has a twelve month low of $0.53 and a twelve month high of $1.99. The company has a quick ratio of 0.53, a current ratio of 2.49 and a debt-to-equity ratio of 0.82. The stock has a market cap of $153.58 million, a P/E ratio of -1.39 and a beta of 2.14. The business’s 50-day moving average price is $0.70 and its two-hundred day moving average price is $0.89.

Lion Electric (NYSE:LEV) last announced its earnings results on Wednesday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $30.28 million for the quarter, compared to the consensus estimate of $61.40 million. Lion Electric had a negative net margin of 51.81% and a negative return on equity of 26.26%. As a group, equities analysts predict that Lion Electric will post -0.42 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.