Electrameccanica Vehicles Corp (NASDAQ:SOLO) Receives $5.67 Consensus Target Price from Analysts

Shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) have received a consensus recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.67.

Several brokerages have commented on SOLO. ValuEngine downgraded shares of Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research raised shares of Electrameccanica Vehicles from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Aegis began coverage on shares of Electrameccanica Vehicles in a report on Wednesday, September 18th. They issued a “buy” rating and a $5.00 price target for the company.

NASDAQ SOLO traded up $0.02 during trading hours on Thursday, hitting $2.07. The company’s stock had a trading volume of 141,100 shares, compared to its average volume of 1,102,822. The company’s 50-day simple moving average is $1.96 and its two-hundred day simple moving average is $2.48. The company has a current ratio of 16.81, a quick ratio of 16.24 and a debt-to-equity ratio of 0.04. Electrameccanica Vehicles has a 52 week low of $0.90 and a 52 week high of $6.74. The company has a market capitalization of $80.96 million, a PE ratio of -5.31 and a beta of 1.59.

Electrameccanica Vehicles (NASDAQ:SOLO) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). Electrameccanica Vehicles had a negative net margin of 3,769.20% and a negative return on equity of 71.71%. The firm had revenue of $0.12 million during the quarter, compared to the consensus estimate of $1.41 million. Research analysts anticipate that Electrameccanica Vehicles will post -0.59 EPS for the current fiscal year.

Electrameccanica Vehicles Company Profile

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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