Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) Given Consensus Recommendation of “Buy” by Analysts

Shares of Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) have been given a consensus rating of “Buy” by the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several research firms have recently issued reports on ELMS. Zacks Investment Research raised shares of Electric Last Mile Solutions from a “sell” rating to a “hold” rating in a research report on Tuesday, November 9th. DA Davidson initiated coverage on shares of Electric Last Mile Solutions in a report on Tuesday, August 10th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Electric Last Mile Solutions in a report on Wednesday, July 28th. They set a “buy” rating and a $18.00 target price on the stock.

A number of institutional investors have recently bought and sold shares of ELMS. Wolverine Asset Management LLC bought a new stake in Electric Last Mile Solutions during the 3rd quarter worth approximately $37,000. Citigroup Inc. grew its stake in Electric Last Mile Solutions by 2,317.6% in the 3rd quarter. Citigroup Inc. now owns 6,310 shares of the company’s stock worth $47,000 after buying an additional 6,049 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Electric Last Mile Solutions in the 2nd quarter worth approximately $66,000. Centiva Capital LP purchased a new position in Electric Last Mile Solutions in the 3rd quarter worth approximately $80,000. Finally, Capstone Investment Advisors LLC purchased a new position in Electric Last Mile Solutions in the 3rd quarter worth approximately $97,000. 54.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ ELMS traded up $0.36 during midday trading on Thursday, hitting $8.19. The company’s stock had a trading volume of 407,193 shares, compared to its average volume of 753,842. The company’s fifty day simple moving average is $7.81. Electric Last Mile Solutions has a one year low of $6.43 and a one year high of $15.30. The company has a quick ratio of 2.48, a current ratio of 2.58 and a debt-to-equity ratio of 0.11.

About Electric Last Mile Solutions

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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