Electric Last Mile Solutions (ELMS) Has a New Rating from Wedbush

By Carrie Williams

Electric Last Mile Solutions (ELMSResearch Report) received a Buy rating and a $17.00 price target from Wedbush analyst Daniel Ives today. The company’s shares closed last Monday at $9.78, close to its 52-week low of $9.05.

According to TipRanks.com, Ives is a top 100 analyst with an average return of 34.3% and a 73.2% success rate. Ives covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Palo Alto Networks, and CyberArk Software.

Electric Last Mile Solutions has an analyst consensus of Strong Buy, with a price target consensus of $14.67, implying a 50.3% upside from current levels. In a report issued on July 8, Cowen & Co. also initiated coverage with a Buy rating on the stock with a $14.00 price target.

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The company has a one-year high of $15.30 and a one-year low of $9.05. Currently, Electric Last Mile Solutions has an average volume of 510.1K.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELMS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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