Market cap of Electrameccanica Vehicles Corp. [SOLO] reaches 383.20M – now what?

Electrameccanica Vehicles Corp. [NASDAQ: SOLO] price surged by 5.01 percent to reach at $0.17. The company report on September 15, 2021 that ElectraMeccanica to Launch Customer Deliveries of Flagship SOLO EV.

First Vehicles to be Delivered at Special Celebration Event for Select Group of Early Reservation Holders and Fleets on October 4th, 2021.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, announced that it is starting customer deliveries of its flagship single-occupant, three wheeled, all electric vehicle, the SOLO. The Company will officially begin delivering keys to customers at a special launch event scheduled for October 4th in Los Angeles with a select group of early reservation holders along with the company’s first fleet owners. Deliveries to other reservation holders and customers will steadily increase as production continues to ramp.

A sum of 3918268 shares traded at recent session while its average daily volume was at 2.52M shares. Electrameccanica Vehicles Corp. shares reached a high of $3.56 and dropped to a low of $3.40 until finishing in the latest session at $3.56.

Guru’s Opinion on 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 0.18, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 383.20. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 2.32.

SOLO Stock Performance Analysis:

Electrameccanica Vehicles Corp. [SOLO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.91. With this latest performance, SOLO shares gained by 4.71% in over the last four-week period, additionally sinking by -36.09% over the last 6 months – not to mention a rise of 36.92% 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 54.66, with the RSI for the last a single of trading hit 59.75, and the three-weeks RSI is set at 51.58 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 3.50, while it was recorded at 3.38 for the last single week of trading, and 5.06 for the last 200 days.

Insight into Electrameccanica Vehicles Corp. 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 45.40 and a Current Ratio set at 45.50.

Electrameccanica Vehicles Corp. [SOLO] Insider Position Details

There are presently around $55 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 7,576,842, which is approximately 7.631% of the company’s market cap and around 14.35% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 1,628,554 shares of the stock with an approximate value of $5.8 million in SOLO stocks shares; and STATE STREET CORP, currently with $4.07 million in SOLO stock with ownership of nearly New of the company’s market capitalization.

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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 38 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 4,241,304 shares. Additionally, 36 investors decreased positions by around 4,301,877 shares, while 16 investors held positions by with 6,825,131 shares. The mentioned changes placed institutional holdings at 15,368,312 shares, according to the latest SEC report filing. SOLO stock had 17 new institutional investments in for a total of 3,088,763 shares, while 15 institutional investors sold positions of 2,914,774 shares during the same period.

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