Lion Electric (NYSE:LEV) Price Target Lowered to $0.60 at BMO Capital Markets

Lion Electric (NYSE:LEV) had its price objective cut by BMO Capital Markets from $0.80 to $0.60 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 77.67% from the company’s current price.

LEV has been the subject of a number of other reports. DA Davidson restated a “neutral” rating and set a $1.00 price objective (down from $1.50) on shares of Lion Electric in a research note on Monday, August 12th. Roth Capital lowered shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lion Electric presently has an average rating of “Hold” and an average target price of $1.46.

Lion Electric Stock Down 18.1 %

LEV stock traded down $0.07 on Friday, reaching $0.34. 575,058 shares of the company traded hands, compared to its average volume of 411,420. Lion Electric has a one year low of $0.33 and a one year high of $1.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.49 and a quick ratio of 0.53. The firm has a fifty day simple moving average of $0.68 and a 200-day simple moving average of $0.82. The company has a market cap of $76.39 million, a P/E ratio of -0.64 and a beta of 2.14.

Institutional Trading of Lion Electric

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in Lion Electric during the 2nd quarter worth approximately $62,000. XTX Topco Ltd bought a new position in shares of Lion Electric in the second quarter worth about $40,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Lion Electric by 14.3% during the first 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 hedge funds and other institutional investors.

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.