Analysts Anticipate Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) Will Announce Quarterly Sales of $10.10 Million

Wall Street analysts forecast that Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) will post sales of $10.10 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Electric Last Mile Solutions’ earnings. The highest sales estimate is $11.40 million and the lowest is $8.80 million. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 9th.

On average, analysts expect that Electric Last Mile Solutions will report full-year sales of $10.20 million for the current year, with estimates ranging from $8.90 million to $11.50 million. For the next year, analysts expect that the company will post sales of $508.70 million, with estimates ranging from $400.00 million to $617.40 million. Zacks’ sales averages are an average based on a survey of analysts that follow Electric Last Mile Solutions.

A number of brokerages have recently weighed in on ELMS. DA Davidson began coverage on shares of Electric Last Mile Solutions in a report on Tuesday, August 10th. They issued a “buy” rating and a $14.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Electric Last Mile Solutions in a report on Wednesday, July 28th. They set a “buy” rating and a $18.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Electric Last Mile Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, November 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Electric Last Mile Solutions presently has a consensus rating of “Buy” and an average price target of $16.00.

Shares of ELMS traded up $0.36 during mid-day trading on Thursday, reaching $8.19. The company’s stock had a trading volume of 407,193 shares, compared to its average volume of 753,842. 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 52 week low of $6.43 and a 52 week high of $15.30. The stock’s fifty day moving average price is $7.83.

Institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC purchased a new position in Electric Last Mile Solutions during the 3rd quarter valued at $37,000. Citigroup Inc. increased its position 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 purchasing an additional 6,049 shares during the period. Penserra Capital Management LLC purchased a new position in Electric Last Mile Solutions during the 2nd quarter valued at $66,000. Centiva Capital LP purchased a new position in Electric Last Mile Solutions during the 3rd quarter valued at $80,000. Finally, Capstone Investment Advisors LLC purchased a new position in Electric Last Mile Solutions during the 3rd quarter valued at $97,000. 54.52% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Electric Last Mile Solutions (NASDAQ:ELMS)

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