Electrameccanica Vehicles (NASDAQ:SOLO) Trading Up 19.5%

Shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) were up 19.5% during trading on Wednesday . The stock traded as high as $1.48 and last traded at $1.41, approximately 15,680,872 shares changed hands during mid-day trading. An increase of 1,844% from the average daily volume of 806,832 shares. The stock had previously closed at $1.18.

Several analysts have commented on SOLO shares. Benchmark cut shares of Electrameccanica Vehicles to a “hold” rating in a research note on Friday, April 3rd. ValuEngine raised shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Zacks Investment Research raised shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research note on Wednesday, April 1st. Finally, Aegis reduced their target price on shares of Electrameccanica Vehicles from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $2.63.

The firm has a market capitalization of $43.65 million, a price-to-earnings ratio of -5.78 and a beta of 1.65. The firm’s 50 day moving average is $1.03 and its 200 day moving average is $1.65. The company has a quick ratio of 4.32, a current ratio of 4.55 and a debt-to-equity ratio of 0.04.

Electrameccanica Vehicles (NASDAQ:SOLO) last released its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Electrameccanica Vehicles had a negative net margin of 1,527.14% and a negative return on equity of 83.31%.

Several large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. bought a new position in Electrameccanica Vehicles during the 1st quarter valued at about $28,000. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Electrameccanica Vehicles by 1,650.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,000 shares of the company’s stock worth $45,000 after buying an additional 19,800 shares during the period. Advisory Services Network LLC grew its holdings in Electrameccanica Vehicles by 46.5% during the fourth quarter. Advisory Services Network LLC now owns 19,925 shares of the company’s stock valued at $43,000 after purchasing an additional 6,325 shares during the period. Finally, Virtu Financial LLC acquired a new position in Electrameccanica Vehicles during the fourth quarter valued at approximately $84,000. Institutional investors and hedge funds own 0.89% of the company’s stock.

Electrameccanica Vehicles Company Profile (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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