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

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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.

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