Electrameccanica Vehicles (NASDAQ:SOLO) Trading Up 5.1%

Electrameccanica Vehicles Corp (NASDAQ:SOLO)’s stock price was up 5.1% during mid-day trading on Friday . The company traded as high as $2.95 and last traded at $2.88, approximately 522,069 shares were traded during mid-day trading. A decline of 68% from the average daily volume of 1,640,822 shares. The stock had previously closed at $2.74.

A number of brokerages have issued reports on SOLO. Zacks Investment Research downgraded Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. ThinkEquity began coverage on Electrameccanica Vehicles in a research report on Thursday, March 28th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, Roth Capital began coverage on Electrameccanica Vehicles in a research report on Tuesday, July 9th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Electrameccanica Vehicles has an average rating of “Hold” and a consensus price target of $5.25.

The business has a 50-day moving average price of $2.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 16.61 and a current ratio of 17.01. The stock has a market capitalization of $100.85 million, a P/E ratio of -7.38 and a beta of 1.58.

Electrameccanica Vehicles (NASDAQ:SOLO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.08). Electrameccanica Vehicles had a negative return on equity of 98.03% and a negative net margin of 3,920.55%. The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.56 million. On average, research analysts forecast that Electrameccanica Vehicles Corp will post -0.31 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Electrameccanica Vehicles stock. Advisory Services Network LLC acquired a new position in shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 29,100 shares of the company’s stock, valued at approximately $104,000. Advisory Services Network LLC owned approximately 0.08% of Electrameccanica Vehicles at the end of the most recent quarter. 2.98% of the stock is owned by institutional investors and hedge funds.

About Electrameccanica Vehicles (NASDAQ:SOLO)

Electrameccanica Vehicles Corp., a development-stage company, plans, develops, manufactures, and sells single person electric vehicles under the SOLO name for mass markets. It operates in two segments, Electric Vehicles and Custom Build Vehicles. The company also develops and manufactures high end custom built vehicles.

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