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Lion Electric (NYSE:LEV) Earns Outperform Rating From Analysts at Northland Securities

Defense World ·  Dec 28, 2022 14:41

Northland Securities assumed coverage on shares of Lion Electric (NYSE:LEV – Get Rating) in a research report released on Tuesday, The Fly reports. The firm issued an outperform rating and a $5.00 target price on the stock.

LEV has been the subject of several other research reports. B. Riley decreased their price target on Lion Electric from $5.00 to $4.00 in a research note on Wednesday, December 14th. National Bankshares decreased their price target on Lion Electric from $9.00 to $4.50 and set an outperform rating for the company in a research note on Friday, November 4th. Canaccord Genuity Group cut Lion Electric from a buy rating to a hold rating and decreased their price target for the stock from $8.00 to $2.50 in a research note on Friday, October 21st. Raymond James decreased their target price on Lion Electric from $5.00 to $4.50 and set a market perform rating for the company in a research note on Monday, November 14th. Finally, DA Davidson decreased their target price on Lion Electric to $5.00 in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $7.13.

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Lion Electric Price Performance

Shares of LEV opened at $1.98 on Tuesday. Lion Electric has a 12 month low of $1.83 and a 12 month high of $10.18. The company has a market cap of $385.53 million, a P/E ratio of 7.92 and a beta of 2.07. The stock has a fifty day moving average price of $2.73 and a 200 day moving average price of $3.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.18 and a quick ratio of 1.37.

Lion Electric (NYSE:LEV – Get Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Lion Electric had a negative return on equity of 10.19% and a net margin of 43.68%. The company had revenue of $40.98 million during the quarter, compared to analysts' expectations of $41.66 million. On average, research analysts forecast that Lion Electric will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On Lion Electric

Several hedge funds have recently modified their holdings of the stock. Shell Asset Management Co. lifted its stake in Lion Electric by 40.7% in the 2nd quarter. Shell Asset Management Co. now owns 6,774 shares of the company's stock worth $28,000 after acquiring an additional 1,959 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Lion Electric by 11.9% in the 2nd quarter. Wolverine Asset Management LLC now owns 23,080 shares of the company's stock worth $97,000 after acquiring an additional 2,451 shares in the last quarter. Vanguard Group Inc. lifted its stake in Lion Electric by 17.5% in the 1st quarter. Vanguard Group Inc. now owns 34,022 shares of the company's stock worth $285,000 after acquiring an additional 5,061 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Lion Electric by 17.3% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 36,775 shares of the company's stock worth $105,000 after acquiring an additional 5,419 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in Lion Electric by 15.3% in the 3rd quarter. Toronto Dominion Bank now owns 45,138 shares of the company's stock worth $128,000 after acquiring an additional 5,988 shares in the last quarter. 43.71% of the stock is owned by hedge funds and other institutional investors.

Lion Electric Company Profile

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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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