Lion Electric (NYSE:LEV) Posts Earnings Results, Misses Expectations By $0.02 EPS

Lion Electric (NYSE:LEV) announced its quarterly earnings data 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 business had revenue of $30.63 million during the quarter, compared to analysts’ expectations of $34.33 million. Lion Electric had a negative net margin of 74.35% and a negative return on equity of 31.12%. During the same period last year, the company posted ($0.10) EPS.

Lion Electric Trading Down 15.8 %

NYSE LEV traded down $0.07 on Friday, hitting $0.35. The company’s stock had a trading volume of 1,340,444 shares, compared to its average volume of 190,761. The firm has a market cap of $78.50 million, a P/E ratio of -0.57 and a beta of 2.14. Lion Electric has a 52-week low of $0.32 and a 52-week high of $1.99. The company’s 50-day simple moving average is $0.67 and its 200 day simple moving average is $0.82. The company has a current ratio of 2.49, a quick ratio of 0.53 and a debt-to-equity ratio of 0.82.

Analyst Upgrades and Downgrades

LEV has been the subject of several analyst reports. Roth Capital lowered shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. BMO Capital Markets dropped their target price on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a report on Friday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $1.00 price target (down from $1.50) on shares of Lion Electric in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.