Lion Electric (NYSE:LEV) Issues Earnings Results, Misses Estimates By $0.02 EPS

Lion Electric (NYSE:LEV) released its earnings results on Wednesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02), Zacks reports. The firm had revenue of $30.63 million for the quarter, compared to the consensus estimate of $34.33 million. Lion Electric had a negative return on equity of 31.12% and a negative net margin of 74.35%. During the same quarter last year, the company posted ($0.10) EPS.

Lion Electric Stock Performance

LEV traded down $0.07 during trading hours on Friday, reaching $0.35. The company’s stock had a trading volume of 1,340,444 shares, compared to its average volume of 190,761. The company’s 50-day moving average is $0.67 and its 200-day moving average is $0.82. Lion Electric has a 52 week low of $0.32 and a 52 week high of $1.99. The firm has a market cap of $78.50 million, a PE ratio of -0.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.53 and a current ratio of 2.49.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BMO Capital Markets reduced their price target on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research report on Friday. DA Davidson reissued a “neutral” rating and set a $1.00 price target (down from $1.50) on shares of Lion Electric in a research report on Monday, August 12th. Finally, Roth Capital downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.46.

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.