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Lion Electric Co. (NYSE:LEV), a leading firm in the Farm & Heavy Construction Machinery Industry, saw its stock rise by 13.07% to $1.73 on Wednesday, November 2, 2023, before closing at $1.53 due to market fluctuations during the trading session. The company’s shares were traded at a volume of 1.01 million, reflecting a significant intraday increase with a beta value of 2.19.
Despite being down -115.61% from its 52-week high of $3.73, the company is up 13.29% from its 52-week low of $1.50. The stock hit a weekly high of $1.74 and has a -22.77% year-to-date performance and -30.77% growth rate.
The company has shown impressive yearly sales growth of 71.22% over the past five years and is valued at $391.31 million with outstanding shares totaling $218.08 million and a float of $115.94 million.
Analysts predict a $3.67 price target, which represents a potential increase of 52.86%, and a YoY revenue growth of 105.70%, forecasting revenues of $78.91 million for this quarter and $97.42 million for Q4 2023.
Lion Electric’s latest quarterly report, released on June 29, 2023, reported an EPS of -$0.05, beating the consensus estimate of -$0.11 by $0.06. For the current fiscal year, earnings of -0.09 per share are projected.
Insider ownership dominates institutional ownership at Lion Electric with respective holdings of 48.74% and 7.15%. Major holders include Power Corp of Canada and Invesco Ltd, holding 48.86% of total outstanding shares. The largest mutual fund holders are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF (NYSE:) and First Trust Nasdaq Clean Edge Green Energy Index Fund.
The company’s Raw Stochastic average over the past 100 days is 19.49%, showing a significant fall from the last two weeks’ Stochastic %D of 31.90%. Its historic volatility over the past 14-days and past 100-days stands at 72.64% and 60.01% respectively. The next earnings report is due on Monday, November 7, 2023.
InvestingPro Insights
InvestingPro’s real-time data and tips provide valuable insights into Lion Electric’s financial health and market performance. The company’s market cap stands at 402.61 million USD, and its price-to-earnings ratio is -7.62, indicating that it is not currently profitable. Over the last twelve months up to Q2 2023, the company’s revenue growth was a promising 130.52%, but the gross profit margin was a concerning -5.2%.
InvestingPro Tips highlight several key aspects to consider. Firstly, Lion Electric may have trouble making interest payments on its debt, which could impact its financial stability. Additionally, while analysts anticipate sales growth in the current year, the company has been quickly burning through cash. This, combined with the fact that the company is not profitable over the last twelve months, suggests potential challenges ahead.
However, it’s important to note that Lion Electric’s liquid assets exceed its short-term obligations, indicating that it has the financial resources to meet its immediate liabilities. For more detailed insights and additional tips, consider exploring the InvestingPro platform, which features a wealth of information to support informed investment decisions. There are 14 additional tips available for Lion Electric on InvestingPro, providing a comprehensive view of the company’s financial health and market performance.
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