Lion Electric Co (NYSE:LEV) Drops -46.96% In 2023; Is It Affordable At $1.66?

In last trading session, Lion Electric Co (NYSE:LEV) saw 0.51 million shares changing hands with its beta currently measuring 2.15. Company’s recent per share price level of $1.66 trading at $0.0 or 0.00% at ring of the bell on the day assigns it a market valuation of $375.48M. That closing price of LEV’s stock is at a discount of -89.16% from its 52-week high price of $3.14 and is indicating a premium of 9.64% from its 52-week low price of $1.50. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.61 million shares which gives us an average trading volume of 589.45K if we extend that period to 3-months.

For Lion Electric Co (LEV), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.17. Splitting up the data highlights that, out of 12 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 5 suggested the stock as a Hold whereas 6 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.09 in the current quarter.

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Lion Electric Co (NYSE:LEV) trade information

In the last five days LEV remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $1.66 price level, adding 8.29% to its value on the day. Lion Electric Co’s shares saw a change of -25.89% in year-to-date performance and have moved 3.75% in past 5-day. Lion Electric Co (NYSE:LEV) showed a performance of -4.05% in past 30-days. Number of shares sold short was 8.19 million shares which calculate 14.54 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.53 to the stock, which implies a rise of 52.97% to its current value. Analysts have been projecting $1.90 as a low price target for the stock while placing it at a high target of $7.00. It follows that stock’s current price would drop -321.69% in reaching the projected high whereas dropping to the targeted low would mean a loss of -14.46% for stock’s current value.

Lion Electric Co (LEV) estimates and forecasts

Statistics highlight that Lion Electric Co is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -19.02% of value to its shares in past 6 months, showing an annual growth rate of -19.23% while that of industry is 16.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -350.00% in the current quarter and calculating -42.90% decrease in the next quarter. This year revenue growth is estimated to rise 101.50% from the last financial year’s standing.

10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $89.99 million for the same. And 5 analysts are in estimates of company making revenue of $108.24 million in the next quarter that will end on Mar 2024. Company posted $46.77 million and $52.37 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 92.40% while estimating it to be 106.70% for the next quarter.

LEV Dividends

Lion Electric Co is more likely to be releasing its next quarterly report on November 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Lion Electric Co (NYSE:LEV)’s Major holders

Insiders are in possession of 48.86% of company’s total shares while institution are holding 7.99 percent of that, with stock having share float percentage of 15.63%. Investors also watch the number of corporate investors in a company very closely, which is 7.99% institutions for Lion Electric Co that are currently holding shares of the company. Power Corp of Canada is the top institutional holder at LEV for having 77.14 million shares of worth $142.72 million. And as of Jun 29, 2023, it was holding 34.11% of the company’s outstanding shares.

The second largest institutional holder is Invesco Ltd., which was holding about 5.19 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 2.29% of outstanding shares, having a total worth of $9.59 million.

On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and First Trust Nasdaq (R) Clean Edge (R) Green Energy Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 30, 2023, the former fund manager was holding 4.78 million shares of worth $10.42 million or 2.11% of the total outstanding shares. The later fund manager was in possession of 1.18 million shares on Sep 29, 2023, making its stake of worth around $2.26 million in the company or a holder of 0.52% of company’s stock.

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