Look For Institutional Buying In Lion Electric Co (NYSE: LEV)

Lion Electric Co (LEV) concluded trading on Thursday at a closing price of $0.24, with 5.64 million shares of worth about $1.35 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -76.13% during that period and on November 21, 2024 the price saw a gain of about 26.97%. Currently the company’s common shares owned by public are about 218.08M shares, out of which, 120.00M shares are available for trading.

Stock saw a price change of -33.69% in past 5 days and over the past one month there was a price change of -62.64%. Year-to-date (YTD), LEV shares are showing a performance of -86.51% which decreased to -85.17% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.18 but also hit the highest price of $1.99 during that period. The average intraday trading volume for Lion Electric Co shares is 359.12K. The stock is currently trading -46.96% below its 20-day simple moving average (SMA20), while that difference is down -59.49% for SMA50 and it goes to -74.67% lower than SMA200.

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Lion Electric Co (NYSE: LEV) currently have 218.08M outstanding shares and institutions hold larger chunk of about 4.50% of that.

The stock has a current market capitalization of $54.00M and its 3Y-monthly beta is at 2.00. It has posted earnings per share of -$0.58 in the same period. It has Quick Ratio of 0.30 while making debt-to-equity ratio of 1.38. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LEV, volatility over the week remained 25.98% while standing at 12.60% over the month.

Stock’s fiscal year EPS is expected to drop by -2.45% while it is estimated to increase by 14.32% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by DA Davidson on August 12, 2024 offering a Neutral rating for the stock and assigned a target price range of between $1.50 and $1 to it. Coverage by National Bank Financial stated Lion Electric Co (LEV) stock as a Sector perform in their note to investors on August 04, 2023, suggesting a price target of $2.75 for the stock. On March 27, 2023, R. F. Lafferty Initiated their recommendations, while on March 20, 2023, BMO Capital Markets Initiated their ratings for the stock with a price target of $2. Stock get an Equal weight rating from Barclays on February 15, 2023.

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