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

Electric Last Mile Solutions, Inc. (NASDAQ:ELMS – Get Rating) has received an average recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $4.88.

ELMS has been the topic of a number of recent analyst reports. Cowen downgraded shares of Electric Last Mile Solutions from an “outperform” rating to a “market perform” rating and set a $6.00 price target on the stock. in a report on Wednesday, February 2nd. DA Davidson cut shares of Electric Last Mile Solutions from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research report on Wednesday, February 2nd. Wedbush cut shares of Electric Last Mile Solutions from an “outperform” rating to a “neutral” rating and set a $4.00 target price on the stock. in a report on Wednesday, February 2nd. BTIG Research lowered Electric Last Mile Solutions from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 2nd. Finally, Benchmark lowered Electric Last Mile Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, February 3rd.

NASDAQ ELMS opened at $1.08 on Friday. Electric Last Mile Solutions has a 52-week low of $0.90 and a 52-week high of $12.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.48 and a current ratio of 2.58. The firm has a 50-day moving average of $1.54 and a 200-day moving average of $4.92.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Electric Last Mile Solutions by 32.1% during the 4th quarter. BlackRock Inc. now owns 817,677 shares of the company’s stock worth $5,748,000 after buying an additional 198,616 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Electric Last Mile Solutions by 1,633.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,530 shares of the company’s stock worth $38,000 after buying an additional 5,211 shares during the period. Deutsche Bank AG acquired a new position in shares of Electric Last Mile Solutions during the 4th quarter worth approximately $43,000. California State Teachers Retirement System acquired a new position in Electric Last Mile Solutions in the 4th quarter valued at $331,000. Finally, Legal & General Group Plc acquired a new position in Electric Last Mile Solutions in the 4th quarter valued at $124,000. 9.61% of the stock is currently owned by institutional investors.

About Electric Last Mile Solutions (Get Rating)

Electric Last Mile Solutions, Inc, a commercial electric vehicle solutions company, focuses on designing, engineering, manufacturing, and customizing electric ‘last mile' delivery and utility vehicles. It offers Class 1 commercial electric vehicle in the U.S. market and focuses on producing Class 3 Urban Utility electric vehicle.

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