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

Shares of Electric Last Mile Solutions, Inc. (NASDAQ:ELMSGet Rating) have received an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $4.88.

Several research firms have weighed in on ELMS. DA Davidson cut shares of Electric Last Mile Solutions from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research report on Wednesday, February 2nd. Zacks Investment Research cut shares of Electric Last Mile Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. BTIG Research cut shares of Electric Last Mile Solutions from a “buy” rating to a “neutral” rating 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 price target for the company. in a research report on Wednesday, February 2nd. Finally, Colliers Securities cut shares of Electric Last Mile Solutions from a “buy” rating to a “neutral” rating in a research report on Thursday, February 3rd.

Several hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its position in shares of Electric Last Mile Solutions by 27.4% in the third quarter. Advisor Group Holdings Inc. now owns 13,539 shares of the company’s stock worth $99,000 after purchasing an additional 2,915 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Electric Last Mile Solutions by 7.4% during the fourth quarter. Wedbush Securities Inc. now owns 58,975 shares of the company’s stock worth $415,000 after buying an additional 4,075 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Electric Last Mile Solutions during the third quarter worth $37,000. Wells Fargo & Company MN increased its holdings in shares of Electric Last Mile Solutions by 1,633.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,530 shares of the company’s stock valued at $38,000 after purchasing an additional 5,211 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Electric Last Mile Solutions by 2,317.6% in the third quarter. Citigroup Inc. now owns 6,310 shares of the company’s stock valued at $47,000 after purchasing an additional 6,049 shares during the last quarter. 12.58% of the stock is currently owned by institutional investors and hedge funds.

ELMS opened at $0.78 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.48 and a current ratio of 2.58. Electric Last Mile Solutions has a 1-year low of $0.60 and a 1-year high of $12.00. The firm has a 50-day moving average price of $1.11 and a two-hundred day moving average price of $4.10.

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

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