Lion Electric (NYSE:LEV) Posts Earnings Results

Lion Electric (NYSE:LEV) released its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02), Zacks reports. The business had revenue of $30.63 million during the quarter, compared to analyst estimates of $34.33 million. Lion Electric had a negative net margin of 74.35% and a negative return on equity of 31.12%. During the same quarter in the previous year, the firm posted ($0.10) earnings per share.

Lion Electric Stock Down 15.8 %

LEV stock traded down $0.07 during midday trading on Friday, reaching $0.35. 1,340,444 shares of the company’s stock traded hands, compared to its average volume of 190,761. 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 firm’s fifty day moving average price is $0.67 and its 200-day moving average price is $0.82. Lion Electric has a 52 week low of $0.32 and a 52 week high of $1.99. The company has a market cap of $78.50 million, a price-to-earnings ratio of -0.59 and a beta of 2.14.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Roth Capital downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. BMO Capital Markets decreased their target price on shares of Lion Electric from $0.80 to $0.60 and set a “market perform” rating on the stock in a report on Friday. Finally, DA Davidson restated a “neutral” rating and issued a $1.00 target price (down from $1.50) on shares of Lion Electric in a research report on Monday, August 12th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1.46.

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.