Analysts predict that The Lion Electric Company (NYSE:LEV) will post $25.10 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for The Lion Electric's earnings. The highest sales estimate is $28.00 million and the lowest is $21.30 million. The company is scheduled to issue its next earnings results on Friday, November 12th.
On average, analysts expect that The Lion Electric will report full-year sales of $83.63 million for the current year, with estimates ranging from $76.90 million to $91.00 million. For the next financial year, analysts expect that the company will post sales of $290.33 million, with estimates ranging from $225.00 million to $358.00 million. Zacks Investment Research's sales calculations are an average based on a survey of research firms that cover The Lion Electric.
A number of research firms have recently weighed in on LEV. Desjardins began coverage on The Lion Electric in a report on Monday, May 17th. They set a "buy" rating and a $26.00 target price for the company. National Bankshares lowered their target price on The Lion Electric from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 17th. Vertical Research downgraded The Lion Electric from a "neutral" rating to a "sell" rating in a research note on Friday, July 9th. National Bank Financial lowered their price target on The Lion Electric from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, August 17th. Finally, National Bank of Canada initiated coverage on The Lion Electric in a research report on Monday, May 17th. They set an "outperform" rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, The Lion Electric presently has a consensus rating of "Hold" and a consensus price target of $21.00.
Shares of The Lion Electric stock opened at $10.92 on Monday. The business has a fifty day simple moving average of $14.17 and a two-hundred day simple moving average of $16.49. The Lion Electric has a 1 year low of $9.60 and a 1 year high of $35.25.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. purchased a new stake in shares of The Lion Electric during the 2nd quarter valued at approximately $39,696,000. Point72 Asset Management L.P. acquired a new position in The Lion Electric in the second quarter valued at $23,881,000. K.J. Harrison & Partners Inc acquired a new position in The Lion Electric in the second quarter valued at $10,020,000. Yaupon Capital Management LP purchased a new stake in shares of The Lion Electric in the second quarter valued at about $9,720,000. Finally, Formula Growth Ltd. purchased a new position in The Lion Electric during the second quarter worth about $5,523,000. 7.12% of the stock is currently owned by institutional investors and hedge funds.
About The Lion Electric
The Lion Electric Company manufactures all-electric medium and heavy-duty urban vehicles in North America. It primarily offers buses and trucks. The company is based in Saint-JÃ©rÃ´me, Canada.
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