Short Interest in The Lion Electric Company (NYSE:LEV) Expands By 12.9%

The Lion Electric Company (NYSE:LEVGet Free Report) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 6,900,000 shares, an increase of 12.9% from the April 15th total of 6,110,000 shares. Approximately 6.0% of the shares of the company are sold short. Based on an average daily trading volume, of 602,700 shares, the days-to-cover ratio is currently 11.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new position in Lion Electric in the fourth quarter valued at $28,000. Alpine Global Management LLC bought a new stake in shares of Lion Electric during the 3rd quarter valued at about $34,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Lion Electric by 75.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after purchasing an additional 12,712 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Lion Electric by 50.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock worth $61,000 after purchasing an additional 10,610 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its position in shares of Lion Electric by 20.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after buying an additional 17,285 shares during the period. 52.73% of the stock is owned by institutional investors and hedge funds.

Lion Electric Price Performance

Lion Electric stock opened at $1.00 on Wednesday. The stock has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.53. Lion Electric has a 12 month low of $0.88 and a 12 month high of $2.68. The company has a current ratio of 2.65, a quick ratio of 0.73 and a debt-to-equity ratio of 0.74.

Lion Electric (NYSE:LEVGet Free Report) last posted its 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). Lion Electric had a negative return on equity of 18.99% and a negative net margin of 43.21%. The business had revenue of $60.43 million for the quarter, compared to analyst estimates of $93.39 million. On average, equities research analysts expect that Lion Electric will post -0.3 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LEV. National Bank Financial downgraded Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a report on Wednesday, May 8th. Roth Mkm cut their price objective on shares of Lion Electric from $2.50 to $2.00 and set a “buy” rating for the company in a report on Thursday, May 9th. CIBC lowered their target price on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a report on Monday, April 22nd. Barclays reduced their price target on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Finally, Desjardins cut Lion Electric from a “buy” rating to a “hold” rating and dropped their price objective for the company from $4.00 to $2.50 in a 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 stock. According to data from MarketBeat, Lion Electric currently has an average rating of “Hold” and an average target price of $1.74.

Check Out Our Latest Report on Lion Electric

About Lion Electric

(Get Free Report)

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.

Read More

Receive News & Ratings for Lion Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lion Electric and related companies with MarketBeat.com's FREE daily email newsletter.