DA Davidson Reiterates “Neutral” Rating for Lion Electric (NYSE:LEV)

DA Davidson reaffirmed their neutral rating on shares of Lion Electric (NYSE:LEV) in a research note published on Monday, MarketBeat.com reports. DA Davidson currently has a $1.00 price target on the stock, down from their prior price target of $1.50.

LEV has been the subject of a number of other reports. B. Riley raised shares of Lion Electric to a strong-buy rating in a report on Tuesday, June 25th. National Bank Financial cut Lion Electric from a sec perform spec market wgt rating to an underperform spec market wgt rating in a report on Wednesday, May 8th. Barclays lowered their target price 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 decreased their price objective on Lion Electric from $2.00 to $1.00 and set a market perform rating on the stock in a research note on Thursday, May 9th. Finally, Roth Capital cut Lion Electric from a strong-buy rating to a hold rating in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $1.52.

Lion Electric Trading Up 11.2 %

Shares of LEV stock opened at $0.64 on Monday. The company has a current ratio of 2.49, a quick ratio of 0.73 and a debt-to-equity ratio of 0.82. Lion Electric has a 12-month low of $0.53 and a 12-month high of $2.29. The stock has a market capitalization of $144.24 million, a P/E ratio of -1.30 and a beta of 2.14. The firm’s 50 day moving average is $0.86 and its 200 day moving average is $1.15.

Institutional Investors Weigh In On Lion Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LEV. Victory Capital Management Inc. purchased a new stake in shares of Lion Electric in the fourth quarter valued at $28,000. XTX Topco Ltd purchased a new position in shares of Lion Electric during the 2nd quarter worth about $40,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after purchasing an additional 12,712 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Lion Electric in the 2nd quarter worth about $62,000. Finally, Atria Wealth Solutions Inc. lifted its stake in Lion Electric by 20.1% in the fourth 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 during 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.