Stifel slashes price target on Electrameccanica Vehicles Corp. [SOLO] – find out why.

Electrameccanica Vehicles Corp. [NASDAQ: SOLO] closed the trading session at $3.35 on 05/20/21. The day’s price range saw the stock hit a low of $3.25, while the highest price level was $3.38. The company report on May 14, 2021 that ElectraMeccanica Reports First Quarter 2021 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 first quarter ended March 31, 2021 in conjunction with the filing of its Quarterly Report on Form 6-K earlier.

Recent Company Highlights.

The stocks have a year to date performance of -45.88 percent and weekly performance of 10.02 percent. The stock has been moved at -47.98 percent over the last six months. The stock has performed -20.99 percent around the most recent 30 days and changed -53.92 percent over the most recent 3-months.

If compared to the average trading volume of 6.44M shares, SOLO reached to a volume of 2811383 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 0.26, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 579.94. The Price to Book ratio for the last quarter was 1.29, with the Price to Cash per share for the same quarter was set at 2.51.

SOLO stock trade performance evaluation

Electrameccanica Vehicles Corp. [SOLO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.02. With this latest performance, SOLO shares dropped by -20.99% in over the last four-week period, additionally sinking by -47.98% over the last 6 months – not to mention a rise of 231.68% 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 36.17, with the RSI for the last a single of trading hit 38.05, and the three-weeks RSI is set at 36.34 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 4.38, while it was recorded at 3.35 for the last single week of trading, and 4.98 for the last 200 days.

Electrameccanica Vehicles Corp. [SOLO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Electrameccanica Vehicles Corp. [SOLO] shares currently have an operating margin of -4786.19 and a Gross Margin at -305.11. Electrameccanica Vehicles Corp.’s Net Margin is presently recorded at -11089.64.

Return on Total Capital for SOLO is now -39.01, given the latest momentum, and Return on Invested Capital for the company is -91.07. Return on Equity for this stock declined to -91.84, with Return on Assets sitting at -74.56. When it comes to the capital structure of this company, Electrameccanica Vehicles Corp. [SOLO] has a Total Debt to Total Equity ratio set at 0.88. Additionally, SOLO Total Debt to Total Capital is recorded at 0.87, with Total Debt to Total Assets ending up at 0.74. Long-Term Debt to Equity for the company is recorded at 0.41, with the Long-Term Debt to Total Capital now at 0.40.

Reflecting on the efficiency of the workforce at the company, Electrameccanica Vehicles Corp. [SOLO] managed to generate an average of -$529,806 per employee. Receivables Turnover for the company is 2.05 with a Total Asset Turnover recorded at a value of 0.01.Electrameccanica Vehicles Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 68.80 and a Current Ratio set at 69.00.

Earnings per share (EPS) analysis for Electrameccanica Vehicles Corp. [SOLO] stock

With the latest financial reports released by the company, Electrameccanica Vehicles Corp. posted -0.21/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -61.50%. 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.

Electrameccanica Vehicles Corp. [SOLO]: Insider Ownership positions

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Positions in Electrameccanica Vehicles Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 47 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 6,569,975 shares. Additionally, 35 investors decreased positions by around 2,488,753 shares, while 11 investors held positions by with 6,366,907 shares. The mentioned changes placed institutional holdings at 15,425,635 shares, according to the latest SEC report filing. SOLO stock had 29 new institutional investments in for a total of 3,310,571 shares, while 22 institutional investors sold positions of 1,049,351 shares during the same period.

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