Lion Electric (TSE:LEV) Trading Up 11.1% – Should You Buy?

The Lion Electric Company (TSE:LEV) shares were up 11.1% on Thursday . The company traded as high as C$0.30 and last traded at C$0.30. Approximately 381,469 shares were traded during trading, an increase of 12% from the average daily volume of 339,941 shares. The stock had previously closed at C$0.27.

Wall Street Analyst Weigh In

A number of research firms have commented on LEV. DA Davidson cut shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. Desjardins decreased their target price on Lion Electric from C$1.50 to C$1.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. National Bankshares reduced their price objective on Lion Electric from C$1.00 to C$0.80 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. Roth Capital downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, CIBC lowered their target price on Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating for the company in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$0.82.

Lion Electric Stock Performance

The company has a current ratio of 2.49, a quick ratio of 1.33 and a debt-to-equity ratio of 118.61. The stock’s 50 day moving average is C$0.84 and its 200 day moving average is C$1.08. The stock has a market capitalization of C$72.39 million, a price-to-earnings ratio of -0.38 and a beta of 2.59.

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.