Electrameccanica Vehicles Corp. [NASDAQ: SOLO] loss -4.77% or -0.18 points to close at $3.59 with a heavy trading volume of 13394065 shares. The company report on October 29, 2020 that ElectraMeccanica Announces the Arrival of First Production SOLO EVs and Opening of Six New Retail Locations.
Company also Provides Production and Customer Delivery Update.
ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, announced that it will open six (6) new retail locations across the western U.S. within the next month. The Company also announced that the initial shipment of its production vehicles for its flagship SOLO EV have arrived in North America. In-line with the Company’s ongoing vehicle rollout strategy, these SOLO EVs have been designated for corporate use in marketing, advertising and retail activities.
It opened the trading session at $3.80, the shares rose to $3.90 and dropped to $3.46, the range by which the price of stock traded the whole day. The daily chart for SOLO points out that the company has recorded 259.00% gains over the past six months. However, it is still -303.37% lower than its most recent low trading price.
If we look at the average trading volume of 6.43M shares, SOLO reached to a volume of 13394065 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Electrameccanica Vehicles Corp. [SOLO]:
ROTH Capital have made an estimate for Electrameccanica Vehicles Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 09, 2019. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Speculative Buy. The new note on the price target was released on March 20, 2019, representing the official price target for Electrameccanica Vehicles Corp. stock.
The Average True Range (ATR) for Electrameccanica Vehicles Corp. is set at 0.29, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 495.13. The Price to Book ratio for the last quarter was 3.82, with the Price to Cash per share for the same quarter was set at 0.56.
Trading performance analysis for SOLO stock
Electrameccanica Vehicles Corp. [SOLO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.14. With this latest performance, SOLO shares gained by 45.93% in over the last four-week period, additionally plugging by 259.00% over the last 6 months – not to mention a rise of 75.12% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SOLO stock in for the last two-week period is set at 66.53, with the RSI for the last a single of trading hit 69.19, and the three-weeks RSI is set at 63.21 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 2.70, while it was recorded at 3.20 for the last single week of trading, and 2.15 for the last 200 days.
Electrameccanica Vehicles Corp. [SOLO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Electrameccanica Vehicles Corp. [SOLO] shares currently have an operating margin of -3602.19 and a Gross Margin at -120.84. Electrameccanica Vehicles Corp.’s Net Margin is presently recorded at -3962.55.
Return on Total Capital for SOLO is now -129.52, given the latest momentum, and Return on Invested Capital for the company is -144.55. Return on Equity for this stock declined to -147.60, with Return on Assets sitting at -103.12. When it comes to the capital structure of this company, Electrameccanica Vehicles Corp. [SOLO] has a Total Debt to Total Equity ratio set at 7.72. Additionally, SOLO Total Debt to Total Capital is recorded at 7.17, with Total Debt to Total Assets ending up at 4.83. Long-Term Debt to Equity for the company is recorded at 4.53, with the Long-Term Debt to Total Capital now at 4.20.
Reflecting on the efficiency of the workforce at the company, Electrameccanica Vehicles Corp. [SOLO] managed to generate an average of -$367,755 per employee. Receivables Turnover for the company is 0.96 with a Total Asset Turnover recorded at a value of 0.03.Electrameccanica Vehicles Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 25.60 and a Current Ratio set at 26.20.
Electrameccanica Vehicles Corp. [SOLO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Electrameccanica Vehicles Corp. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SOLO.
An analysis of insider ownership at Electrameccanica Vehicles Corp. [SOLO]
There are presently around $7 million, or 5.10% of SOLO stock, in the hands of institutional investors. The top three institutional holders of SOLO stocks are: CIBC WORLD MARKETS INC. with ownership of 700,000, which is approximately New of the company’s market cap and around 47.90% of the total institutional ownership; PERKINS CAPITAL MANAGEMENT INC, holding 357,500 shares of the stock with an approximate value of $1.28 million in SOLO stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.63 million in SOLO stock with ownership of nearly 1030.78% of the company’s market capitalization.
Positions in Electrameccanica Vehicles Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 27 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 1,711,735 shares. Additionally, 8 investors decreased positions by around 99,677 shares, while 3 investors held positions by with 162,896 shares. The mentioned changes placed institutional holdings at 1,974,308 shares, according to the latest SEC report filing. SOLO stock had 16 new institutional investments in for a total of 1,399,677 shares, while 6 institutional investors sold positions of 90,160 shares during the same period.