why Electric Last Mile Solutions Inc. [ELMS] is a Good Choice for Investors After New Price Target of $9.00


Electric Last Mile Solutions Inc. [NASDAQ: ELMS] surged by $0.09 during the normal trading session on Friday and reaching a high of $0.4975 during the day while it closed the day at $0.37. 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. stock has also loss -28.43% of its value over the past 7 days. However, ELMS stock has declined by -72.56% in the 3 months of the year. Over the past six months meanwhile, it has lost -94.84% and lost -94.81% year-on date.

The market cap for ELMS stock reached $35.00 million, with 118.78 million shares outstanding and 56.81 million shares in the current float. Compared to the average trading volume of 3.73M shares, ELMS reached a trading volume of 71722610 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $9.00 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 0.13, with the Price to Sales ratio for ELMS stock in the period of the last 12 months amounting to 350.00. The Price to Book ratio for the last quarter was 0.16, with the Price to Cash per share for the same quarter was set at 1.49.

ELMS stock trade performance evaluation

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 -28.43. With this latest performance, ELMS shares dropped by -52.88% in over the last four-week period, additionally sinking by -94.84% over the last 6 months – not to mention a drop of -96.34% 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 38.40, with the RSI for the last a single of trading hit 42.39, and the three-weeks RSI is set at 36.17 for Electric Last Mile Solutions Inc. [ELMS]. The present Moving Average for the last 50 days of trading for this stock 0.7743, while it was recorded at 0.2298 for the last single week of trading, and 4.4411 for the last 200 days.

Electric Last Mile Solutions Inc. [ELMS]: An insightful look at the core fundamentals

Return on Total Capital for ELMS is now -3.45, given the latest momentum, and Return on Invested Capital for the company is -27.98. Return on Equity for this stock declined to -27.98, with Return on Assets sitting at -23.32.

Reflecting on the efficiency of the workforce at the company, Electric Last Mile Solutions Inc. [ELMS] managed to generate an average of -$14,680,612 per employee.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.

Electric Last Mile Solutions Inc. [ELMS]: Insider Ownership positions

There are presently around $5 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 $0.62 million in ELMS stocks shares; and AROSA CAPITAL MANAGEMENT LP, currently with $0.57 million in ELMS stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Electric Last Mile Solutions Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 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.