Lion Electric (TSE:LEV) Stock Price Down 15% – Here’s Why

The Lion Electric Company (TSE:LEV)’s share price dropped 15% on Tuesday . The stock traded as low as C$0.34 and last traded at C$0.34. Approximately 76,810 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 324,917 shares. The stock had previously closed at C$0.40.

Analyst Upgrades and Downgrades

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

Lion Electric Price Performance

The company has a debt-to-equity ratio of 118.61, a current ratio of 2.49 and a quick ratio of 1.33. The firm has a market capitalization of C$61.08 million, a price-to-earnings 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 two-hundred 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.