CIBC Trims Lion Electric (NYSE:LEV) Target Price to $1.40

Lion Electric (NYSE:LEV) had its target price lowered by CIBC from $1.70 to $1.40 in a report published on Monday morning, MarketBeat reports. CIBC currently has a neutral rating on the stock.

LEV has been the subject of a number of other research reports. DA Davidson dropped their price objective on Lion Electric from $4.00 to $3.50 and set a buy rating for the company in a research report on Tuesday, March 5th. Desjardins cut Lion Electric from a buy rating to a hold rating and dropped their price objective for the stock from $4.00 to $2.50 in a research report on Friday, March 1st. Finally, National Bankshares dropped their price objective on Lion Electric from $2.25 to $1.75 and set a sector perform rating for the company in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $2.34.

Lion Electric Price Performance

Shares of NYSE LEV opened at $0.91 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.45 and a quick ratio of 0.73. The stock has a fifty day moving average price of $1.35 and a 200 day moving average price of $1.61. Lion Electric has a 1-year low of $0.88 and a 1-year high of $2.68. The company has a market cap of $206.51 million, a PE ratio of -1.98 and a beta of 2.00.

Lion Electric (NYSE:LEV) last released 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 business had revenue of $60.43 million during the quarter, compared to analyst estimates of $93.39 million. Lion Electric had a negative net margin of 40.93% and a negative return on equity of 22.01%. Sell-side analysts forecast that Lion Electric will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Lion Electric

Several institutional investors and hedge funds have recently made changes to their positions in LEV. Victory Capital Management Inc. bought a new position in Lion Electric during the 4th quarter worth $28,000. Alpine Global Management LLC bought a new position in Lion Electric during the 3rd quarter worth $34,000. Barclays PLC bought a new position in Lion Electric during the 2nd quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after buying an additional 12,712 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Lion Electric by 50.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock worth $61,000 after buying an additional 10,610 shares during the last quarter. 52.73% of the stock is owned by institutional investors and hedge funds.

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.