Lion Electric (TSE:LEV) Stock Price Down 13.6% – Here’s Why

Shares of The Lion Electric Company (TSE:LEV) were down 13.6% during trading on Thursday . The stock traded as low as C$0.48 and last traded at C$0.48. Approximately 1,672,161 shares changed hands during trading, an increase of 276% from the average daily volume of 444,314 shares. The stock had previously closed at C$0.55.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lowered shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$0.82.

Lion Electric Trading Down 12.7 %

The company’s 50-day moving average is C$0.70 and its 200 day moving average is C$1.01. The company has a market cap of C$108.59 million, a price-to-earnings ratio of -0.77 and a beta of 2.59. The company has a quick ratio of 1.33, a current ratio of 2.49 and a debt-to-equity ratio of 118.61.

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.