The Lion Electric Company [LEV] is -77.97% lower this YTD. Is it still time to buy?

The Lion Electric Company [NYSE: LEV] slipped around -0.48 points on Tuesday, while shares priced at $2.19 at the close of the session, down -17.98%. The company report on December 13, 2022 that Lion Electric Announces Pricing of Marketed Public Offering of Units.

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Offering to result in Gross Proceeds of US$50 Million to Lion Electric.

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated June 17, 2022 to its short form base shelf prospectus dated June 17, 2022.

Compared to the average trading volume of 1.13M shares, LEV reached a trading volume of 6338150 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about The Lion Electric Company [LEV]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LEV shares is $4.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LEV stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for The Lion Electric Company shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 21, 2022. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on September 27, 2022, representing the official price target for The Lion Electric Company stock. Previously, the target price had yet another raise to $7, while DA Davidson analysts kept a Buy rating on LEV stock.

The Average True Range (ATR) for The Lion Electric Company is set at 0.20, with the Price to Sales ratio for LEV stock in the period of the last 12 months amounting to 3.61. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 0.35.

How has LEV stock performed recently?

The Lion Electric Company [LEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -23.43. With this latest performance, LEV shares dropped by -40.49% in over the last four-week period, additionally sinking by -53.50% over the last 6 months – not to mention a drop of -77.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LEV stock in for the last two-week period is set at 29.71, with the RSI for the last a single of trading hit 22.87, and the three-weeks RSI is set at 33.85 for The Lion Electric Company [LEV]. The present Moving Average for the last 50 days of trading for this stock 2.86, while it was recorded at 2.65 for the last single week of trading, and 4.86 for the last 200 days.

The Lion Electric Company [LEV]: Deeper insight into the fundamentals

The Lion Electric Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 3.20.

Insider trade positions for The Lion Electric Company [LEV]

There are presently around $186 million, or 9.80% of LEV stock, in the hands of institutional investors. The top three institutional holders of LEV stocks are: POWER CORP OF CANADA with ownership of 67,301,166, which is approximately 0% of the company’s market cap and around 56.70% of the total institutional ownership; INVESCO LTD., holding 5,141,497 shares of the stock with an approximate value of $11.26 million in LEV stocks shares; and NATIONAL BANK OF CANADA /FI/, currently with $4.05 million in LEV stock with ownership of nearly -19.337% of the company’s market capitalization.

42 institutional holders increased their position in The Lion Electric Company [NYSE:LEV] by around 4,561,358 shares. Additionally, 39 investors decreased positions by around 2,711,016 shares, while 24 investors held positions by with 77,854,066 shares. The mentioned changes placed institutional holdings at 85,126,440 shares, according to the latest SEC report filing. LEV stock had 18 new institutional investments in for a total of 360,441 shares, while 18 institutional investors sold positions of 1,685,965 shares during the same period.


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