5 Cheapest Penny Stocks According to Analysts

4. The Lion Electric Company (NYSE:LEV)

PE Ratio (TTM) as of March 9: 6.90

Average Upside Potential as of March 9: 97.67%

Number of Hedge Fund Holders: 15

The Lion Electric Company (NYSE:LEV) is a Canadian designer and manufacturer commercial electric vehicles. The company specializes in all-electric medium and heavy-duty urban vehicles and also provides battery systems, chassis, bus bodies, and truck cabins. As of March 9, The Lion Electric Company (NYSE:LEV) has a TTM PE ratio of 6.90 and is one of the cheapest penny stocks to buy now.

Based on analyst ratings given by 8 Wall Street analysts, The Lion Electric Company (NYSE:LEV) has a consensus Buy rating and an average price target of $4.25, which represents an upside of 97.67% from its closing price on March 9.

This February, Barclays analyst Dan Levy took coverage of The Lion Electric Company (NYSE:LEV) with an Equal Weight rating and a $3 price target.

At the end of Q4 2022, 15 hedge funds were eager on The Lion Electric Company (NYSE:LEV) and held collective stakes worth $11.2 million in the company. Of those, Steven Cohen’s Point72 Asset Management is the largest shareholder in the company and has a position worth $2.58 million.