Richelieu Gestion SA Sells 736,515 Shares of The Lion Electric Company (NYSE:LEV)

Richelieu Gestion SA trimmed its stake in shares of The Lion Electric Company (NYSE:LEV) by 47.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 807,323 shares of the company’s stock after selling 736,515 shares during the period. Richelieu Gestion SA owned 0.36% of Lion Electric worth $1,146,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new stake in shares of Lion Electric in the 4th quarter worth about $28,000. Atria Wealth Solutions Inc. increased its position in Lion Electric by 20.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock valued at $183,000 after purchasing an additional 17,285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after purchasing an additional 12,712 shares during the period. Alpine Global Management LLC purchased a new position in Lion Electric during the 3rd quarter valued at about $34,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Lion Electric by 9.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock worth $366,000 after buying an additional 16,683 shares during the last quarter. 52.73% of the stock is owned by hedge funds and other institutional investors.

Lion Electric Stock Performance

Shares of LEV traded up $0.00 during trading on Wednesday, reaching $0.90. 380,298 shares of the company traded hands, compared to its average volume of 484,650. The stock has a 50-day simple moving average of $1.02 and a 200-day simple moving average of $1.40. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.65 and a quick ratio of 0.73. The Lion Electric Company has a twelve month low of $0.88 and a twelve month high of $2.68.

Lion Electric (NYSE:LEV) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.05. Lion Electric had a negative net margin of 43.21% and a negative return on equity of 18.99%. The business had revenue of $55.48 million during the quarter, compared to analyst estimates of $71.82 million. Equities analysts predict that The Lion Electric Company will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LEV has been the topic of several research analyst reports. National Bank Financial downgraded shares of Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research report on Wednesday, May 8th. BMO Capital Markets decreased their price objective on shares of Lion Electric from $2.00 to $1.00 and set a “market perform” rating for the company in a research note on Thursday, May 9th. CIBC reduced their price objective on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Desjardins cut shares of Lion Electric from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $4.00 to $2.50 in a research report on Friday, March 1st. Finally, Barclays reduced their price objective on shares of Lion Electric from $2.00 to $1.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.74.

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.