Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) Receives Average Rating of “Buy” from Brokerages

Shares of Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $14.20.

Several research firms have recently issued reports on ELMS. Zacks Investment Research raised shares of Electric Last Mile Solutions from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Tuesday. Colliers Securities reissued a “buy” rating on shares of Electric Last Mile Solutions in a research report on Wednesday, January 5th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELMS. Wolverine Asset Management LLC bought a new position in Electric Last Mile Solutions during the 3rd quarter valued at $37,000. Citigroup Inc. boosted its stake in Electric Last Mile Solutions by 2,317.6% during the 3rd quarter. Citigroup Inc. now owns 6,310 shares of the company’s stock valued at $47,000 after acquiring an additional 6,049 shares during the last quarter. Penserra Capital Management LLC bought a new position in Electric Last Mile Solutions during the 2nd quarter valued at $66,000. Centiva Capital LP bought a new position in Electric Last Mile Solutions during the 3rd quarter valued at $80,000. Finally, Capstone Investment Advisors LLC bought a new position in Electric Last Mile Solutions during the 3rd quarter valued at $97,000. 54.15% of the stock is owned by institutional investors and hedge funds.

Shares of Electric Last Mile Solutions stock traded down $0.04 during trading hours on Friday, hitting $6.53. The company’s stock had a trading volume of 237,105 shares, compared to its average volume of 256,318. Electric Last Mile Solutions has a 1-year low of $6.03 and a 1-year high of $14.98. The firm has a fifty day moving average price of $7.40. The company has a quick ratio of 2.48, a current ratio of 2.58 and a debt-to-equity ratio of 0.11.

Electric Last Mile Solutions (NASDAQ:ELMS) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $2.10 million. On average, research analysts expect that Electric Last Mile Solutions will post -0.6 EPS for the current fiscal year.

Electric Last Mile Solutions Company Profile

Electric Last Mile, Inc designs and manufactures last mile delivery electric vehicles. The company was incorporated in 2020 and is based in Auburn Hills, Michigan.

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Analyst Recommendations for Electric Last Mile Solutions (NASDAQ:ELMS)

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