Market Analysts see Electric Last Mile Solutions Inc. [ELMS] falling to $2.50. Time to buy?


Electric Last Mile Solutions Inc. [NASDAQ: ELMS] loss -61.59% on the last trading session, reaching $0.20 price per share at the time. The company report on June 12, 2022 that Electric Last Mile Solutions, Inc. Announces Chapter 7 Bankruptcy Filing.

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Electric Last Mile Solutions, Inc. (NASDAQ: ELMS) (“ELMS” or “the Company”), a pure-play commercial electric vehicle (“EV”) company that has been focused on redefining productivity for the last mile, today announced the Company plans to file for Chapter 7 bankruptcy.

In February 2022, following the resignations of Jim Taylor, the Company’s former Chief Executive Officer, and Jason Luo, the Company’s founder and former Executive Chairman, the Company appointed Board member Shauna McIntyre as interim CEO and President, in part because of her considerable automotive experience.

Electric Last Mile Solutions Inc. represents 118.78 million in outstanding shares, while the company has a total market value of $24.62 million with the latest information. ELMS stock price has been found in the range of $0.1705 to $0.24.

If compared to the average trading volume of 773.89K shares, ELMS reached a trading volume of 10480977 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Electric Last Mile Solutions Inc. [ELMS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELMS shares is $6.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELMS stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Electric Last Mile Solutions Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 03, 2022. The new note on the price target was released on February 02, 2022, representing the official price target for Electric Last Mile Solutions Inc. stock. Previously, the target price had yet another raise to $7, while DA Davidson analysts kept a Neutral rating on ELMS stock.

The Average True Range (ATR) for Electric Last Mile Solutions Inc. is set at 0.10, with the Price to Sales ratio for ELMS stock in the period of the last 12 months amounting to 246.23. The Price to Book ratio for the last quarter was 0.09, with the Price to Cash per share for the same quarter was set at 1.14.

Trading performance analysis for ELMS stock

Electric Last Mile Solutions Inc. [ELMS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -63.72. With this latest performance, ELMS shares dropped by -73.29% in over the last four-week period, additionally sinking by -97.28% over the last 6 months – not to mention a drop of -98.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELMS stock in for the last two-week period is set at 20.41, with the RSI for the last a single of trading hit 15.55, and the three-weeks RSI is set at 24.31 for Electric Last Mile Solutions Inc. [ELMS]. The present Moving Average for the last 50 days of trading for this stock 0.8661, while it was recorded at 0.4787 for the last single week of trading, and 4.5927 for the last 200 days.

Electric Last Mile Solutions Inc. [ELMS]: A deeper dive into fundamental analysis

Electric Last Mile Solutions Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.60.

An analysis of insider ownership at Electric Last Mile Solutions Inc. [ELMS]

There are presently around $7 million, or 15.70% of ELMS stock, in the hands of institutional investors. The top three institutional holders of ELMS stocks are: PARTNERS CAPITAL INVESTMENT GROUP, LLP with ownership of 2,463,518, which is approximately 0% of the company’s market cap and around 54.19% of the total institutional ownership; VANGUARD GROUP INC, holding 1,688,948 shares of the stock with an approximate value of $0.86 million in ELMS stocks shares; and AROSA CAPITAL MANAGEMENT LP, currently with $0.79 million in ELMS stock with ownership of nearly 0% of the company’s market capitalization.

29 institutional holders increased their position in Electric Last Mile Solutions Inc. [NASDAQ:ELMS] by around 1,575,807 shares. Additionally, 30 investors decreased positions by around 5,782,439 shares, while 17 investors held positions by with 6,612,790 shares. The mentioned changes placed institutional holdings at 13,971,036 shares, according to the latest SEC report filing. ELMS stock had 10 new institutional investments in for a total of 690,944 shares, while 16 institutional investors sold positions of 5,541,866 shares during the same period.