Wednesday, January 27, 2021

Electrameccanica Vehicles Corp. [SOLO] Revenue clocked in at $0.60 million, up 16.80% YTD: What’s Next?

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Electrameccanica Vehicles Corp. [NASDAQ: SOLO] gained 7.27% or 0.49 points to close at $7.23 with a heavy trading volume of 27677014 shares. The company report on January 5, 2021 that ElectraMeccanica to Present at the 23rd Annual Needham Growth Conference on January 12, 2021.

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ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, has been invited to present at the 23rd Annual Needham Growth Conference, which is being held virtually on January 11-15, 2021.


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ElectraMeccanica management is scheduled to present on Tuesday, January 12, 2021 at 5:00 p.m. Eastern time, with one-on-one meetings to be held throughout the conference. The Company’s presentation will be webcast live and available for replay here.

It opened the trading session at $6.67, the shares rose to $7.57 and dropped to $6.66, the range by which the price of stock traded the whole day. The daily chart for SOLO points out that the company has recorded 100.83% gains over the past six months. However, it is still -712.36% lower than its most recent low trading price.

If we look at the average trading volume of 21.63M shares, SOLO reached to a volume of 27677014 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]:

Stifel have made an estimate for Electrameccanica Vehicles Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 17, 2020. The new note on the price target was released on July 09, 2019, representing the official price target for Electrameccanica Vehicles Corp. stock. Previously, the target price had yet another raise to $6, while The Benchmark Company analysts kept a Speculative Buy rating on SOLO stock.

The Average True Range (ATR) for Electrameccanica Vehicles Corp. is set at 0.70, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 1013.89. The Price to Book ratio for the last quarter was 5.98, with the Price to Cash per share for the same quarter was set at 0.95.

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 9.88. With this latest performance, SOLO shares gained by 1.97% in over the last four-week period, additionally plugging by 100.83% over the last 6 months – not to mention a rise of 233.18% 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 56.53, with the RSI for the last a single of trading hit 59.37, and the three-weeks RSI is set at 56.42 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 6.39, while it was recorded at 6.85 for the last single week of trading, and 3.26 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.

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 April and at the time of the April reporting period, where 29 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 3,909,312 shares. Additionally, 16 investors decreased positions by around 1,150,159 shares, while 3 investors held positions by with 730,752 shares. The mentioned changes placed institutional holdings at 4,328,719 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 12 institutional investors sold positions of 1,135,312 shares during the same period.

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