Short Interest in The Lion Electric Company (NYSE:LEV) Declines By 21.2%

The Lion Electric Company (NYSE:LEV) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 2,310,000 shares, a decrease of 21.2% from the November 15th total of 2,930,000 shares. Based on an average trading volume of 5,450,000 shares, the short-interest ratio is currently 0.4 days. Approximately 1.9% of the shares of the company are short sold.

Institutional Trading of Lion Electric

A hedge fund recently bought a new stake in Lion Electric stock. XTX Topco Ltd acquired a new stake in The Lion Electric Company (NYSE:LEV) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 43,969 shares of the company’s stock, valued at approximately $40,000. 52.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets dropped their price objective on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research note on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $1.46.

Lion Electric Trading Down 26.6 %

NYSE:LEV traded down $0.09 during mid-day trading on Monday, reaching $0.24. 4,480,555 shares of the company’s stock traded hands, compared to its average volume of 1,818,844. Lion Electric has a 12-month low of $0.18 and a 12-month high of $1.99. The firm has a market capitalization of $55.33 million, a price-to-earnings ratio of -0.41 and a beta of 1.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 0.30. The company has a 50 day moving average price of $0.45 and a 200-day moving average price of $0.69.

Lion Electric (NYSE:LEV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $30.63 million for the quarter, compared to the consensus estimate of $34.33 million. Lion Electric had a negative net margin of 74.35% and a negative return on equity of 32.42%. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, sell-side analysts predict that Lion Electric will post -0.53 earnings per share for the current year.

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.