Lion Electric (TSE:LEV) Given New C$0.65 Price Target at CIBC

Lion Electric (TSE:LEV) had its target price decreased by CIBC from C$1.15 to C$0.65 in a report issued on Thursday morning, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Several other analysts have also recently weighed in on LEV. B. Riley raised Lion Electric to a strong-buy rating in a report on Tuesday, June 25th. National Bank Financial downgraded shares of Lion Electric from a sec perform spec market wgt rating to an underperform spec market wgt rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of C$0.82.

Lion Electric Stock Down 3.4 %

Shares of TSE LEV opened at C$0.86 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.65 and a debt-to-equity ratio of 104.69. The company has a market cap of C$194.55 million, a P/E ratio of -1.28 and a beta of 2.74. Lion Electric has a 52 week low of C$0.80 and a 52 week high of C$3.18. The business has a 50-day simple moving average of C$1.31 and a two-hundred day simple moving average of C$1.66.

Lion Electric (TSE:LEV) last issued its quarterly earnings data on Wednesday, May 8th. The company reported C($0.02) EPS for the quarter, beating the consensus estimate of C($0.10) by C$0.08. The company had revenue of C$74.80 million during the quarter, compared to analysts’ expectations of C$97.28 million. Lion Electric had a negative net margin of 43.21% and a negative return on equity of 28.75%. Research analysts anticipate that Lion Electric will post -0.48 earnings per share for the current fiscal year.

About Lion Electric

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.