Electrameccanica Vehicles Corp. [NASDAQ: SOLO] gained 5.85% on the last trading session, reaching $4.34 price per share at the time. The company report on May 14, 2021 that ElectraMeccanica Reports First Quarter 2021 Financial Results.
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.
Electrameccanica Vehicles Corp. represents 103.59 million in outstanding shares, while the company has a total market value of $481.48 million with the latest information. SOLO stock price has been found in the range of $4.03 to $4.34.
If compared to the average trading volume of 5.27M shares, SOLO reached a trading volume of 3571802 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 0.31, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 687.83. The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 2.35.
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 -7.46. With this latest performance, SOLO shares gained by 31.12% in over the last four-week period, additionally sinking by -31.22% over the last 6 months – not to mention a rise of 114.85% 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 55.37, with the RSI for the last a single of trading hit 55.79, and the three-weeks RSI is set at 52.87 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 4.01, while it was recorded at 4.33 for the last single week of trading, and 5.09 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 -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.
Electrameccanica Vehicles Corp. [SOLO]: An earnings per share (EPS) analysis
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.
An analysis of insider ownership at Electrameccanica Vehicles Corp. [SOLO]
There are presently around $67 million, or 13.90% of SOLO stock, in the hands of institutional investors. The top three institutional holders of SOLO stocks are: INVESCO LTD. with ownership of 7,039,655, which is approximately 19.007% of the company’s market cap and around 15.16% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 1,303,254 shares of the stock with an approximate value of $5.66 million in SOLO stocks shares; and CAPITAL FUND MANAGEMENT S.A., currently with $5.26 million in SOLO stock with ownership of nearly New of the company’s market capitalization.
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 48 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 6,570,175 shares. Additionally, 34 investors decreased positions by around 2,486,253 shares, while 11 investors held positions by with 6,369,407 shares. The mentioned changes placed institutional holdings at 15,425,835 shares, according to the latest SEC report filing. SOLO stock had 30 new institutional investments in for a total of 3,310,771 shares, while 21 institutional investors sold positions of 1,046,851 shares during the same period.