Einride (NASDAQ:ENRD) Stock Price Down 1.2% – Time to Sell?

Einride (NASDAQ:ENRD) traded down 1.2% during mid-day trading on Friday. The stock traded as low as $3.35 and last traded at $3.36. Approximately 25,390 shares were traded during trading, a decline of 90% from the average session volume of 255,540 shares. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

ENRD has been the topic of a number of analyst reports. Wall Street Zen upgraded Einride from a “sell” rating to a “hold” rating in a report on Saturday. Canaccord Genuity Group initiated coverage on Einride in a research note on Tuesday, September 15th. They set a “buy” rating and a $8.00 price objective for the company. Finally, Weiss Ratings began coverage on Einride in a research note on Monday, September 14th. They set a “sell (e-)” rating for the company. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Einride Stock Performance

The stock has a market capitalization of $477.79 million, a PE ratio of 11.20 and a beta of 0.36.

Einride Company Profile

Einride is a Swedish freight-technology company that develops electric and autonomous solutions for the movement of goods. The company combines connected electric trucks, autonomous vehicles and digital logistics software to help businesses transition away from conventional diesel-powered freight operations.

Its product portfolio includes the Einride Saga freight mobility platform, which is designed to help customers plan, monitor and optimize transportation networks. Einride also provides electric and autonomous trucking solutions, charging infrastructure and related services for industrial and logistics customers.

Founded in 2016 by Robert Falck, Einride has expanded its operations beyond Sweden to serve customers and conduct deployments in markets including Europe and the United States.