Lion Electric (NYSE:LEV – Get Free Report) was downgraded by equities research analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.
Several other equities analysts also recently weighed in on LEV. National Bank Financial downgraded Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research report on Wednesday, May 8th. Barclays reduced their price objective on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. BMO Capital Markets reduced their price objective on Lion Electric from $2.00 to $1.00 and set a “market perform” rating on the stock in a research report on Thursday, May 9th. Roth Mkm reduced their price objective on Lion Electric from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, CIBC reduced their target price on Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $1.74.
View Our Latest Stock Report on LEV
Lion Electric Stock Up 4.0 %
Lion Electric (NYSE:LEV – Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The business had revenue of $55.48 million for the quarter, compared to the consensus estimate of $71.82 million. Lion Electric had a negative return on equity of 25.26% and a negative net margin of 51.81%. Analysts predict that Lion Electric will post -0.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Lion Electric
A number of institutional investors have recently modified their holdings of LEV. Victory Capital Management Inc. acquired a new position in Lion Electric during the 4th quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after purchasing an additional 12,712 shares in the last quarter. Atria Wealth Solutions Inc. grew its stake in Lion Electric by 20.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after purchasing an additional 17,285 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Lion Electric by 14.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after purchasing an additional 30,050 shares in the last quarter. 52.73% of the stock is owned by institutional investors and hedge funds.
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.
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