Electrameccanica Vehicles Corp. [SOLO] fell -48.95% so far this year. What now?

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Electrameccanica Vehicles Corp. [NASDAQ: SOLO] stock went on a downward path that fall over -1.25% on Tuesday, amounting to a one-week price decrease of less than -18.56%. The company report on November 23, 2021 that ElectraMeccanica Appoints Global Automotive Executive, Michael Richardson to Board of Directors.

ElectraMeccanica Vehicles Corp. (NASDAQ: SOLO) (“ElectraMeccanica” or the “Company”), a designer and manufacturer of electric vehicles, announced the appointment of Michael Richardson, a global automotive industry veteran, to its Board of Directors, effective immediately.


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Michael Richardson is an accomplished automotive executive with nearly 50 years of global experience, guiding business strategy and building customer solutions. Most recently he served as Interim CEO of Dura Automotive where he was tasked with delivering multiple strategic, urgent initiatives during the global pandemic. He currently serves as an Independent Director on the Board of Directors for both Dura and Shape Corporation.

Over the last 12 months, SOLO stock dropped by -69.02%. The one-year Electrameccanica Vehicles Corp. stock forecast points to a potential upside of 66.02. The average equity rating for SOLO stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $369.69 million, with 112.96 million shares outstanding and 98.73 million shares in the current float. Compared to the average trading volume of 3.06M shares, SOLO stock reached a trading volume of 4252096 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Electrameccanica Vehicles Corp. [SOLO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SOLO shares is $9.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SOLO stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. 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 0.25, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 369.69. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 2.14.

SOLO Stock Performance Analysis:

Electrameccanica Vehicles Corp. [SOLO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.56. With this latest performance, SOLO shares dropped by -6.78% in over the last four-week period, additionally sinking by -15.96% over the last 6 months – not to mention a drop of -69.02% 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 38.58, with the RSI for the last a single of trading hit 32.24, and the three-weeks RSI is set at 41.98 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 3.52, while it was recorded at 3.37 for the last single week of trading, and 4.14 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.

SOLO Stock EPS

With the latest financial reports released by the company, Electrameccanica Vehicles Corp. posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -45.50%. 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.

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Electrameccanica Vehicles Corp. [SOLO] Insider Position Details

There are presently around $46 million, or 13.20% of SOLO stock, in the hands of institutional investors. The top three institutional holders of SOLO stocks are: INVESCO LTD. with ownership of 7,176,011, which is approximately -5.29% of the company’s market cap and around 14.35% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 1,391,984 shares of the stock with an approximate value of $4.4 million in SOLO stocks shares; and STATE STREET CORP, currently with $3.53 million in SOLO stock with ownership of nearly -2.358% of the company’s market capitalization.

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 33 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 1,093,160 shares. Additionally, 35 investors decreased positions by around 1,773,350 shares, while 20 investors held positions by with 11,811,612 shares. The mentioned changes placed institutional holdings at 14,678,122 shares, according to the latest SEC report filing. SOLO stock had 14 new institutional investments in for a total of 362,443 shares, while 13 institutional investors sold positions of 767,810 shares during the same period.

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