Electrameccanica Vehicles Corp. [SOLO] is 247.44% higher this YTD. Is it still time to buy?

Electrameccanica Vehicles Corp. [NASDAQ: SOLO] loss -9.67% or -0.8 points to close at $7.47 with a heavy trading volume of 17475517 shares. The company report on November 11, 2020 that ElectraMeccanica Reports Third Quarter 2020 Financial Results.

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ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, reported financial results for the third quarter ended September 30, 2020.

Third Quarter and Recent Company Highlights.

It opened the trading session at $8.25, the shares rose to $8.30 and dropped to $7.26, the range by which the price of stock traded the whole day. The daily chart for SOLO points out that the company has recorded 533.05% gains over the past six months. However, it is still -739.33% lower than its most recent low trading price.

If we look at the average trading volume of 17.18M shares, SOLO reached to a volume of 17475517 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 1.30, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 1001.48. The Price to Book ratio for the last quarter was 6.33, with the Price to Cash per share for the same quarter was set at 0.97.

Trading performance analysis for SOLO stock

Electrameccanica Vehicles Corp. [SOLO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.90. With this latest performance, SOLO shares gained by 149.83% in over the last four-week period, additionally plugging by 533.05% over the last 6 months – not to mention a rise of 317.32% 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 59.73, with the RSI for the last a single of trading hit 54.69, and the three-weeks RSI is set at 61.71 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 4.00, while it was recorded at 8.59 for the last single week of trading, and 2.51 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 28.20 and a Current Ratio set at 28.50.

Electrameccanica Vehicles Corp. [SOLO]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Electrameccanica Vehicles Corp. posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -8.30%. 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]

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Positions in Electrameccanica Vehicles Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 30 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 3,929,112 shares. Additionally, 17 investors decreased positions by around 1,189,075 shares, while 3 investors held positions by with 768,468 shares. The mentioned changes placed institutional holdings at 4,349,719 shares, according to the latest SEC report filing. SOLO stock had 18 new institutional investments in for a total of 2,357,399 shares, while 13 institutional investors sold positions of 1,174,228 shares during the same period.

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