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

Shares of Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) have received a consensus rating of “Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $16.00.

Several research analysts have weighed in on the company. Jefferies Financial Group assumed coverage on 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. Zacks Investment Research upgraded Electric Last Mile Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, November 9th. Finally, DA Davidson assumed coverage on 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.

Shares of ELMS traded up $0.36 during trading hours on Thursday, reaching $8.19. The stock had a trading volume of 407,193 shares, compared to its average volume of 753,842. Electric Last Mile Solutions has a 52 week low of $6.43 and a 52 week 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. The company’s 50-day moving average is $7.81.

Several institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its holdings 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 valued at $99,000 after purchasing an additional 2,915 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Electric Last Mile Solutions during the third quarter worth approximately $37,000. Citigroup Inc. increased its position in Electric Last Mile Solutions by 2,317.6% during the third quarter. Citigroup Inc. now owns 6,310 shares of the company’s stock worth $47,000 after buying an additional 6,049 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Electric Last Mile Solutions during the second quarter worth approximately $66,000. Finally, Centiva Capital LP bought a new stake in shares of Electric Last Mile Solutions during the third quarter worth approximately $80,000. Institutional investors own 54.52% of the company’s stock.

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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