Lion Electric (TSE:LEV) Shares Up 21.6% – Time to Buy?

The Lion Electric Company (TSE:LEV) shot up 21.6% during mid-day trading on Monday . The stock traded as high as C$0.35 and last traded at C$0.31. 1,003,411 shares changed hands during mid-day trading, an increase of 182% from the average session volume of 355,193 shares. The stock had previously closed at C$0.26.

Analyst Ratings Changes

Separately, DA Davidson downgraded shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lion Electric presently has a consensus rating of “Hold” and a consensus target price of C$0.82.

Lion Electric Stock Up 33.3 %

The business’s fifty day moving average price is C$0.74 and its 200 day moving average price is C$1.03. 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$76.91 million, a PE ratio of -0.36 and a beta of 2.59.

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.