Lion Electric (TSE:LEV) Stock Price Down 15% - Should You Sell?

Shares of The Lion Electric Company (TSE:LEV - Get Free Report) dropped 15% on Tuesday . The stock traded as low as C$0.34 and last traded at C$0.34. Approximately 76,810 shares were traded during 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 research analysts have commented on the company. Roth Capital cut Lion Electric from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 31st. Desjardins lowered their target price on Lion Electric from C$1.50 to C$1.00 and set a "hold" rating for the company in a report on Thursday, August 1st. National Bankshares dropped their target price 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. CIBC reduced their price target on shares of 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. Finally, DA Davidson cut shares of Lion Electric from a "strong-buy" rating to a "hold" rating in a report on Monday, August 12th. One 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of C$0.82.

Lion Electric Stock Performance

The company has a market cap of C$75.78 million, a PE ratio of -0.49 and a beta of 2.59. 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 fifty day simple moving average of C$0.85 and a 200-day simple moving average of C$1.09.

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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.