Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries 2 Electric Vehicle Stocks Wall Street Predicts Will Double By: StockNews.com August 25, 2021 at 11:14 AM EDT The electric vehicle (EV) industry is achieving impressive growth thanks to the increasing focus an efforts of countries worldwide to transition their countries to clean-energy bases. Governments are incentivizing EV sales and production. Given this backdrop, Wall Street analysts expect EV stocks Hyzon Motors (HYZN) and Electric Last Mile (ELMS) to more than double in price in the near term. Read on.The electric vehicle (EV) industry has been growing steadily since last year, driven by favorable government policies, rising environmental concerns, and technological innovations. Despite the pandemic-related downturns in car sales, EV registrations increased by 41% in 2020, with around three million electric cars sold globally.The EV market is expected to grow at a 33.6% CAGR from 2020 to $2.49 trillion by 2027.The U.S.’ recently approved $1 trillion infrastructure bill allocates approximately $7.50 billion to the EV industry. As such, Wall Street analysts expect Popular EV stocks Hyzon Motors Inc. (HYZN) and Electric Last Mile Solutions, Inc. (ELMS) to rally by more than 100% in price.Click here to checkout our Electric Vehicle Industry Report for 2021Hyzon Motors Inc. (HYZN)HYZN is a hydrogen mobility company that manufactures hydrogen-powered commercial vehicles and fuel cell systems. The Honeoye Falls, N.Y.-based company focuses on developing medium- and heavy-duty trucks, as well as city and coach buses. The company’s class A common stock commenced trading on July 19, 2021.On July 18, HYZN signed a memorandum of understanding with Superior Pak to supply up to 20 refuse collection vehicles. Leveraging Superior Pak’s experience designing and engineering mobile waste collection and compaction equipment and HYZN’s leading fuel cell technology, the companies are expected to generate substantial revenues in the near term.HYZN is an emerging hydrogen fuel cell company. It delivered its first Hyzon fuel cell electric trucks in July to customers in Europe and reaffirmed its 2021 sales outlook and plan to sell 85 vehicles worldwide. Recently, the company expanded its orders and non-binding memorandum of understanding from $40 million to $83 million, including additional customer uptake in Europe and Australia.A $180.19 million consensus revenue estimate for the next year indicates a 292.8% improvement from the last year. In addition, analysts expect the company’s EPS to improve 37% in the next year versus the current year.Shares of HYZN have gained 12.4% in price over the past month and 4.3% over the past five days.All three Wall Street analysts that rated HYZN rated it Buy. The $17.67 median price target indicates a potential 116% upside from its last closing price of $8.18. The 12-month price targets range from a low of $10.00 to a high of $22.00.Electric Last Mile Solutions, Inc. (ELMS)ELMS is a commercial electric vehicle solutions company that is focused on designing, engineering, manufacturing, and customizing electric last-mile delivery and utility vehicles. It is based in Auburn Hills, Mich.The company has broadened its supply base for market-proven components through binding agreements. Also, it has affirmed the start of production of the U.S. market’s first Class 1 commercial EV, the Urban Delivery, by the end of the third quarter.On July 12, ELMS signed a binding, long-term supply agreement with Liuzhou Wuling Automobile Industry Co., Ltd., a supplier of automotive components and one of China’s leading automotive manufacturers of electric cargo vans and light-duty specialty vehicles. ELMS expects this partnership will help the company to quickly bring to market segment-defining and U.S.-made, EVs customized to customer’s individual needs.ELMS’ net cash provided by financing activities increased 5,983.6% year-over-year to $240.61 million in the six months ended June 30. Its cash and cash equivalents balance grew 762.7% over the six months to $217.43 million at the end of the period.Analysts expect ELMS’ revenues to increase 5,135.1% year-over-year to $554.40 million in the next year. The consensus EPS estimate for the next year indicates a 53% improvement from the ongoing year.ELMS has gained 2.1% in price intraday to close yesterday’s trading session at $7.43.All five Wall Street analysts rating ELMS rated it Buy. The $15.60 median price target indicates a potential 110% upside from its last closing price. The 12-month price targets range from a low of $14.00 to a high of $18.00.Click here to checkout our Electric Vehicle Industry Report for 2021HYZN shares were trading at $8.30 per share on Wednesday afternoon, up $0.12 (+1.47%). Year-to-date, HYZN has declined -21.70%, versus a 20.92% rise in the benchmark S&P 500 index during the same period.About the Author: Subhasree KarSubhasree’s keen interest in financial instruments led her to pursue a career as an investment analyst. After earning a Master’s degree in Economics, she gained knowledge of equity research and portfolio management at Finlatics.More...The post 2 Electric Vehicle Stocks Wall Street Predicts Will Double appeared first on StockNews.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
2 Electric Vehicle Stocks Wall Street Predicts Will Double By: StockNews.com August 25, 2021 at 11:14 AM EDT The electric vehicle (EV) industry is achieving impressive growth thanks to the increasing focus an efforts of countries worldwide to transition their countries to clean-energy bases. Governments are incentivizing EV sales and production. Given this backdrop, Wall Street analysts expect EV stocks Hyzon Motors (HYZN) and Electric Last Mile (ELMS) to more than double in price in the near term. Read on.The electric vehicle (EV) industry has been growing steadily since last year, driven by favorable government policies, rising environmental concerns, and technological innovations. Despite the pandemic-related downturns in car sales, EV registrations increased by 41% in 2020, with around three million electric cars sold globally.The EV market is expected to grow at a 33.6% CAGR from 2020 to $2.49 trillion by 2027.The U.S.’ recently approved $1 trillion infrastructure bill allocates approximately $7.50 billion to the EV industry. As such, Wall Street analysts expect Popular EV stocks Hyzon Motors Inc. (HYZN) and Electric Last Mile Solutions, Inc. (ELMS) to rally by more than 100% in price.Click here to checkout our Electric Vehicle Industry Report for 2021Hyzon Motors Inc. (HYZN)HYZN is a hydrogen mobility company that manufactures hydrogen-powered commercial vehicles and fuel cell systems. The Honeoye Falls, N.Y.-based company focuses on developing medium- and heavy-duty trucks, as well as city and coach buses. The company’s class A common stock commenced trading on July 19, 2021.On July 18, HYZN signed a memorandum of understanding with Superior Pak to supply up to 20 refuse collection vehicles. Leveraging Superior Pak’s experience designing and engineering mobile waste collection and compaction equipment and HYZN’s leading fuel cell technology, the companies are expected to generate substantial revenues in the near term.HYZN is an emerging hydrogen fuel cell company. It delivered its first Hyzon fuel cell electric trucks in July to customers in Europe and reaffirmed its 2021 sales outlook and plan to sell 85 vehicles worldwide. Recently, the company expanded its orders and non-binding memorandum of understanding from $40 million to $83 million, including additional customer uptake in Europe and Australia.A $180.19 million consensus revenue estimate for the next year indicates a 292.8% improvement from the last year. In addition, analysts expect the company’s EPS to improve 37% in the next year versus the current year.Shares of HYZN have gained 12.4% in price over the past month and 4.3% over the past five days.All three Wall Street analysts that rated HYZN rated it Buy. The $17.67 median price target indicates a potential 116% upside from its last closing price of $8.18. The 12-month price targets range from a low of $10.00 to a high of $22.00.Electric Last Mile Solutions, Inc. (ELMS)ELMS is a commercial electric vehicle solutions company that is focused on designing, engineering, manufacturing, and customizing electric last-mile delivery and utility vehicles. It is based in Auburn Hills, Mich.The company has broadened its supply base for market-proven components through binding agreements. Also, it has affirmed the start of production of the U.S. market’s first Class 1 commercial EV, the Urban Delivery, by the end of the third quarter.On July 12, ELMS signed a binding, long-term supply agreement with Liuzhou Wuling Automobile Industry Co., Ltd., a supplier of automotive components and one of China’s leading automotive manufacturers of electric cargo vans and light-duty specialty vehicles. ELMS expects this partnership will help the company to quickly bring to market segment-defining and U.S.-made, EVs customized to customer’s individual needs.ELMS’ net cash provided by financing activities increased 5,983.6% year-over-year to $240.61 million in the six months ended June 30. Its cash and cash equivalents balance grew 762.7% over the six months to $217.43 million at the end of the period.Analysts expect ELMS’ revenues to increase 5,135.1% year-over-year to $554.40 million in the next year. The consensus EPS estimate for the next year indicates a 53% improvement from the ongoing year.ELMS has gained 2.1% in price intraday to close yesterday’s trading session at $7.43.All five Wall Street analysts rating ELMS rated it Buy. The $15.60 median price target indicates a potential 110% upside from its last closing price. The 12-month price targets range from a low of $14.00 to a high of $18.00.Click here to checkout our Electric Vehicle Industry Report for 2021HYZN shares were trading at $8.30 per share on Wednesday afternoon, up $0.12 (+1.47%). Year-to-date, HYZN has declined -21.70%, versus a 20.92% rise in the benchmark S&P 500 index during the same period.About the Author: Subhasree KarSubhasree’s keen interest in financial instruments led her to pursue a career as an investment analyst. After earning a Master’s degree in Economics, she gained knowledge of equity research and portfolio management at Finlatics.More...The post 2 Electric Vehicle Stocks Wall Street Predicts Will Double appeared first on StockNews.com