Lion Electric (NYSE:LEV) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Lion Electric (NYSE:LEV) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Lion Electric is a manufacturer of all-electric medium and heavy-duty urban vehicles. Lion Electric, formerly known as Northern Genesis Acquisition Corp., is based in MONTREAL. “

Several other analysts have also issued reports on LEV. Barclays began coverage on Lion Electric in a report on Friday, September 24th. They set an overweight rating and a $17.00 target price on the stock. Scotiabank began coverage on Lion Electric in a research note on Tuesday, October 12th. They issued a sector perform rating and a $16.50 price objective on the stock. Raymond James dropped their price objective on Lion Electric from $20.00 to $17.00 and set a market perform rating on the stock in a research note on Friday, November 12th. National Bankshares dropped their price objective on Lion Electric from $19.00 to $17.00 and set an outperform rating on the stock in a research note on Friday, November 12th. Finally, National Bank Financial dropped their price objective on Lion Electric from $19.00 to $17.00 and set an outperform rating on the stock in a research note on Friday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lion Electric currently has a consensus rating of Buy and a consensus price target of $18.65.

LEV opened at $9.84 on Wednesday. Lion Electric has a 52-week low of $8.82 and a 52-week high of $35.25. The business’s 50-day simple moving average is $10.45 and its 200 day simple moving average is $12.52.

Lion Electric (NYSE:LEV) last released its earnings results on Wednesday, November 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.38). The company had revenue of $11.93 million during the quarter, compared to analyst estimates of $25.10 million. Equities research analysts predict that Lion Electric will post 0.14 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Lion Electric by 16.3% during the third quarter. Invesco Ltd. now owns 2,374,088 shares of the company’s stock worth $29,961,000 after purchasing an additional 332,110 shares during the period. Point72 Asset Management L.P. grew its position in Lion Electric by 1.3% during the third quarter. Point72 Asset Management L.P. now owns 1,244,595 shares of the company’s stock worth $15,707,000 after buying an additional 16,138 shares in the last quarter. Pembroke Management LTD grew its position in Lion Electric by 485.3% during the third quarter. Pembroke Management LTD now owns 598,996 shares of the company’s stock worth $9,614,000 after buying an additional 496,657 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in Lion Electric during the second quarter worth approximately $9,720,000. Finally, Formula Growth Ltd. acquired a new stake in Lion Electric during the second quarter worth approximately $5,523,000. Institutional investors own 5.60% of the company’s stock.

Lion Electric Company Profile

The Lion Electric Company manufactures all-electric medium and heavy-duty urban vehicles in North America. It primarily offers buses and trucks. The company is based in Saint-Jérôme, Canada.

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Analyst Recommendations for Lion Electric (NYSE:LEV)

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