Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) Expected to Post Quarterly Sales of $10.10 Million

Equities research analysts predict that Electric Last Mile Solutions, Inc. (NASDAQ:ELMS) will announce sales of $10.10 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Electric Last Mile Solutions’ earnings, with estimates ranging from $8.80 million to $11.40 million. The company is scheduled to report its next earnings report on Wednesday, February 9th.

According to Zacks, analysts expect that Electric Last Mile Solutions will report full-year sales of $10.20 million for the current fiscal year, with estimates ranging from $8.90 million to $11.50 million. For the next financial 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 Investment Research’s sales calculations are an average based on a survey of research firms that cover Electric Last Mile Solutions.

ELMS has been the subject of a number of research analyst reports. DA Davidson initiated coverage on Electric Last Mile Solutions in a report on Tuesday, August 10th. They issued a “buy” rating and a $14.00 target price for the company. Zacks Investment Research upgraded Electric Last Mile Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, November 9th. Finally, Jefferies Financial Group began coverage on Electric Last Mile Solutions in a report on Wednesday, July 28th. They issued a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Electric Last Mile Solutions currently has a consensus rating of “Buy” and an average target price 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 fifty day moving average price of $7.83. Electric Last Mile Solutions has a 1 year low of $6.43 and a 1 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.

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Electric Last Mile Solutions during the third quarter worth $152,000. Centiva Capital LP acquired a new position in Electric Last Mile Solutions during the third quarter worth $80,000. LPL Financial LLC acquired a new position in Electric Last Mile Solutions during the third quarter worth $113,000. Cubist Systematic Strategies LLC acquired a new position in Electric Last Mile Solutions during the third quarter worth $539,000. Finally, Capstone Investment Advisors LLC acquired a new position in Electric Last Mile Solutions during the third quarter worth $97,000. Institutional investors and hedge funds 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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Earnings History and Estimates for Electric Last Mile Solutions (NASDAQ:ELMS)

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