2 TSX EV stocks Canadian investors can keep on their radar: LEV and NFI

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2 TSX EV stocks Canadian investors can keep on their radar: LEV and NFI

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 2 TSX EV stocks Canadian investors can keep on their radar: LEV and NFI
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Highlights

  • Lion Electric delivered 60 more vehicles in Q1 2022 compared to Q1 2021
  • Lion posted a year-over-year surge of US$ 16.4 million in revenues in Q1 2022
  • NFI noted a liquidity position of US$ 649 million as of April 3, 2022

Electric vehicles (EV) stocks like Lion Electric (TSX: LEV) and NFI Group (TSX: NFI) are presently available at discounted prices and could provide substantial growth exposure in future with the electric revolution.

These TSX EV stocks, like other growth equities, are getting affected as mounting inflation and interest rates remain primary concerns among investors worldwide as it could push the global economy into recession. But some key factors like oil and gas prices, emission reduction targets to tackle climate change, etc., could continue to drive EV growth in future years.

On that note, let us discuss Lion Electric and NFI Group.

Lion Electric Company (TSX: LEV)

Lion Electric delivered 60 more vehicles in Q1 2022 compared to Q1 2021. The small-cap company reported a revenue of US$ 22.6 million in the latest quarter, reflecting a year-over-year (YoY) climb of US$ 16.4 million.

The Canadian EV manufacturer also increased its net profit to US$ 2.1 million in the first three months of 2022, relatively higher than a loss of US$ 16.1 million a year ago.

LEV stock lost nearly 78 per cent in 12 months. As per Refinitiv, LEV stock seems to be spiralling into the red zone, with a Relative Strength Index (RSI) value of 34.89 on July 5.

LEV and NFI: 2 TSX EV stocks that should be on your radar

NFI Group Inc (TSX: NFI)

NFI Group posted a revenue of US$ 459 million by delivering 660 equivalent units (EUs) in Q1 2022. The company said that this total delivery included 202 EUs of battery and fuel-cell EVs. NFI noted a liquidity position of US$ 649 million as of April 3, 2022.

NFI stock slipped by almost 54 per cent in 12 months. As per Refinitiv, NFI held a moderate RSI value of 49.29 on July 5.

Bottomline

Lion Electric and NFI are small-cap stocks, but their market cap can increase with the electrification of the automobile industry. Hence, long-term investors can explore these two TSX EV stocks.

Please note, the above content constitutes a very preliminary observation based on the industry, and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks. 

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