Lion Electric (TSE:LEV) Trading Down 15% – Here’s What Happened

Shares of The Lion Electric Company (TSE:LEV) traded down 15% on Tuesday . The company traded as low as C$0.34 and last traded at C$0.34. 76,810 shares changed hands during trading, a decline of 76% from the average session volume of 324,917 shares. The stock had previously closed at C$0.40.

Analyst Upgrades and Downgrades

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

Lion Electric Price Performance

The company has a quick ratio of 1.33, a current ratio of 2.49 and a debt-to-equity ratio of 118.61. The firm has a market capitalization of C$61.08 million, a PE ratio of -0.49 and a beta of 2.59. The stock has a 50-day moving average price of C$0.85 and a 200 day moving average price of C$1.09.

Lion Electric Company Profile

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.