B. Riley Equities Analysts Lower Earnings Estimates for The Lion Electric Company (NYSE:LEV)

The Lion Electric Company (NYSE:LEV) – Analysts at B. Riley lowered their Q3 2024 earnings estimates for Lion Electric in a report released on Tuesday, April 30th. B. Riley analyst C. Souther now expects that the company will earn ($0.05) per share for the quarter, down from their prior forecast of ($0.04). The consensus estimate for Lion Electric’s current full-year earnings is ($0.25) per share. B. Riley also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.28) EPS and FY2025 earnings at $0.12 EPS.

Lion Electric (NYSE:LEV) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The firm had revenue of $60.43 million during the quarter, compared to the consensus estimate of $93.39 million. Lion Electric had a negative net margin of 40.93% and a negative return on equity of 22.01%.

A number of other research analysts also recently weighed in on LEV. CIBC cut their price objective on Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. National Bankshares dropped their target price on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a report on Friday, March 1st. DA Davidson decreased their price target on shares of Lion Electric from $4.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, March 5th. Roth Mkm restated a “buy” rating and set a $2.50 target price (down previously from $5.00) on shares of Lion Electric in a research note on Tuesday, April 23rd. Finally, Desjardins lowered shares of Lion Electric from a “buy” rating to a “hold” rating and decreased their price target for the stock from $4.00 to $2.50 in a research report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.34.

Lion Electric Stock Up 6.2 %

LEV stock opened at $1.02 on Thursday. The firm has a market cap of $230.70 million, a PE ratio of -2.22 and a beta of 2.12. Lion Electric has a 1 year low of $0.88 and a 1 year high of $2.68. The company has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $1.58. The company has a current ratio of 2.45, a quick ratio of 0.73 and a debt-to-equity ratio of 0.62.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new position in shares of Lion Electric during the fourth quarter valued at $28,000. Alpine Global Management LLC bought a new stake in Lion Electric during the 3rd quarter worth approximately $34,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after purchasing an additional 12,712 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Lion Electric by 50.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after purchasing an additional 10,610 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Lion Electric by 20.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after purchasing an additional 17,285 shares in the last quarter. Institutional investors own 52.73% of the company’s stock.

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.