Barclays Lowers Lion Electric (NYSE:LEV) Price Target to $1.00

Lion Electric (NYSE:LEV - Get Free Report) had its price target dropped by equities researchers at Barclays from $2.00 to $1.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 5.25% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Roth Mkm lowered their price target on shares of Lion Electric from $2.50 to $2.00 and set a "buy" rating for the company in a research report on Thursday. CIBC lowered their price target on shares of Lion Electric from $1.70 to $1.40 and set a "neutral" rating for the company in a research report on Monday, April 22nd. DA Davidson lowered their price target on shares of Lion Electric from $4.00 to $3.50 and set a "buy" rating for the company in a research report on Tuesday, March 5th. BMO Capital Markets decreased their target price on shares of Lion Electric from $2.00 to $1.00 and set a "market perform" rating for the company in a research report on Thursday. Finally, Desjardins cut shares of Lion Electric from a "buy" rating to a "hold" rating and decreased their target price for the company from $4.00 to $2.50 in a research report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $1.99.

Lion Electric Trading Down 1.8 %

NYSE:LEV traded down $0.02 during mid-day trading on Thursday, hitting $0.95. 374,743 shares of the stock traded hands, compared to its average volume of 531,588. The stock has a market capitalization of $214.89 million, a price-to-earnings ratio of -2.17 and a beta of 2.12. Lion Electric has a 52 week low of $0.88 and a 52 week high of $2.68. The firm's 50 day moving average is $1.21 and its two-hundred day moving average is $1.55. The company has a quick ratio of 0.73, a current ratio of 2.45 and a debt-to-equity ratio of 0.62.

Lion Electric (NYSE:LEV - Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.03). The company had revenue of $60.43 million during the quarter, compared to the consensus estimate of $93.39 million. Lion Electric had a negative return on equity of 22.01% and a negative net margin of 40.93%. On average, equities research analysts predict that Lion Electric will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of Lion Electric by 50.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company's stock worth $61,000 after acquiring an additional 10,610 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Lion Electric by 7.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company's stock worth $479,000 after acquiring an additional 16,356 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Lion Electric by 9.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company's stock worth $366,000 after acquiring an additional 16,683 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Lion Electric in the third quarter worth $34,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Lion Electric by 75.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company's stock worth $52,000 after acquiring an additional 12,712 shares during the period. Hedge funds and other institutional investors own 52.73% of the company's stock.

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.