Element Fleet Management (OTCMKTS:ELEEF) Shares Cross Below Fifty Day Moving Average - Here's What Happened

Key Points

• Element Fleet Management shares dipped below the 50-day moving average, trading as low as $22.45 versus a 50-day MA of $24.74 and a 200-day MA of $25.76.
• Jefferies upgraded the stock to a buy, and MarketBeat shows an average analyst rating of "Buy" (one Strong Buy and four Buy ratings).
• The company slightly missed quarterly expectations, reporting EPS of $0.33 versus $0.34 expected and revenue of $313.0M compared to $317.8M consensus.

Element Fleet Management Corp. (OTCMKTS:ELEEF - Get Free Report) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $24.74 and traded as low as $22.45. Element Fleet Management shares last traded at $22.4560, with a volume of 1,248 shares.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised shares of Element Fleet Management to a "buy" rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy".

Element Fleet Management Stock Up 0.0%

The stock has a fifty day moving average price of $24.74 and a 200-day moving average price of $25.76.

Element Fleet Management (OTCMKTS:ELEEF - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). The firm had revenue of $313.00 million during the quarter, compared to analyst estimates of $317.79 million.

Element Fleet Management Company Profile

Element Fleet Management OTCMKTS: ELEEF is a leading global fleet management company headquartered in Toronto, Ontario. It provides comprehensive fleet leasing and management solutions for corporate and public sector clients, aiming to optimize vehicle acquisition, utilization and disposal strategies. The company focuses on delivering customizable programs that enhance operational efficiency and reduce total cost of ownership for light-, medium- and heavy-duty vehicles across diverse industries.

Element’s service portfolio encompasses full-service leasing and financing, maintenance management, policy administration, telematics and data analytics, fuel management and end-of-lease remarketing.

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