Lion Electric (NYSE:LEV) Price Target Lowered to $7.50 at Raymond James

Lion Electric (NYSE:LEVGet Rating) had its price objective cut by equities research analysts at Raymond James from $11.00 to $7.50 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James’ price target indicates a potential upside of 24.17% from the company’s previous close.

LEV has been the topic of several other reports. BMO Capital Markets cut Lion Electric from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $22.00 to $7.00 in a report on Thursday, February 24th. National Bank Financial reduced their price target on Lion Electric from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, February 2nd. Canaccord Genuity Group reduced their price target on Lion Electric from $12.00 to $8.00 in a report on Thursday. Canaccord Genuity Group started coverage on Lion Electric in a report on Tuesday, March 8th. They set a “buy” rating and a $12.00 price target on the stock. Finally, National Bankshares reduced their price target on Lion Electric from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, February 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lion Electric currently has a consensus rating of “Buy” and a consensus price target of $13.92.

Lion Electric stock traded down $0.46 during midday trading on Thursday, reaching $6.04. The company’s stock had a trading volume of 33,881 shares, compared to its average volume of 541,299. Lion Electric has a 52 week low of $5.98 and a 52 week high of $23.45. The business has a 50-day moving average price of $7.67 and a 200-day moving average price of $9.32. The stock has a market cap of $1.14 billion, a PE ratio of -16.03 and a beta of 2.00.

Lion Electric (NYSE:LEVGet Rating) last released its earnings results on Thursday, February 24th. The company reported ($0.04) earnings per share (EPS) for the quarter. Lion Electric had a negative net margin of 75.07% and a negative return on equity of 25.74%. The business had revenue of $22.87 million during the quarter. Research analysts anticipate that Lion Electric will post -0.22 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. acquired a new position in shares of Lion Electric during the fourth quarter valued at about $26,000. Shell Asset Management Co. acquired a new position in Lion Electric during the 4th quarter valued at about $48,000. Toronto Dominion Bank boosted its stake in Lion Electric by 9,901.8% during the 4th quarter. Toronto Dominion Bank now owns 5,701 shares of the company’s stock valued at $56,000 after purchasing an additional 5,644 shares during the last quarter. Wells Fargo & Company MN purchased a new stake in shares of Lion Electric in the second quarter worth approximately $110,000. Finally, BlackRock Inc. lifted its holdings in shares of Lion Electric by 93.9% in the fourth quarter. BlackRock Inc. now owns 11,509 shares of the company’s stock valued at $114,000 after purchasing an additional 5,573 shares in the last quarter.

Lion Electric Company Profile (Get Rating)

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. Its products include battery systems, chassis, bus bodies, and truck cabins. The company also distributes truck and bus parts, as well as accessories.

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