B. Riley Comments on The Lion Electric Company’s Q2 2024 Earnings (NYSE:LEV)

The Lion Electric Company (NYSE:LEV) – Stock analysts at B. Riley issued their Q2 2024 earnings per share estimates for shares of Lion Electric in a research report issued on Tuesday, June 25th. B. Riley analyst R. Pfingst forecasts that the company will earn ($0.14) per share for the quarter. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.31) per share. B. Riley also issued estimates for Lion Electric’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.33) EPS and FY2025 earnings at $0.01 EPS.

LEV has been the topic of a number of other reports. CIBC lowered their price objective on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Roth Mkm lowered their price target on shares of Lion Electric from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Barclays cut their price objective on Lion Electric from $2.00 to $1.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. DA Davidson lowered their target price on Lion Electric from $3.50 to $1.50 and set a “buy” rating on the stock in a research note on Monday, May 13th. Finally, National Bank Financial downgraded Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research note on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1.74.

Lion Electric Price Performance

Shares of LEV opened at $0.91 on Friday. The business’s 50-day moving average is $1.01 and its 200-day moving average is $1.38. 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 company has a market capitalization of $205.51 million, a price-to-earnings ratio of -1.85 and a beta of 2.17. Lion Electric has a fifty-two week low of $0.84 and a fifty-two week high of $2.68.

Lion Electric (NYSE:LEV) last released its earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. Lion Electric had a negative return on equity of 18.99% and a negative net margin of 43.21%. The company had revenue of $55.48 million during the quarter, compared to analyst estimates of $71.82 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LEV. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Lion Electric by 14.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after purchasing an additional 30,050 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Lion Electric during the 3rd quarter valued at $34,000. Atria Wealth Solutions Inc. raised its holdings 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 valued at $183,000 after purchasing an additional 17,285 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Lion Electric during the 4th quarter valued at $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Lion Electric by 75.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after acquiring an additional 12,712 shares during the period. Institutional investors own 52.73% of the company’s stock.

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.