Electrameccanica Vehicles Corp. [NASDAQ: SOLO] traded at a low on 06/29/22, posting a -4.51 loss after which it closed the day’ session at $1.27. The company report on May 12, 2022 that ElectraMeccanica Reports First Quarter 2022 Financial Results.
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Company Reported $1.05 Million in Q1 ‘22 Revenue, up 400+% YOY, and EPS of ($.15) as it Ramps Up Production.
ElectraMeccanica Manufactured 170 SOLOs in the Period, Delivering a Total of 45 Despite Strong Logistical Headwinds.
The results of the trading session contributed to over 6305500 shares changing hands. Over the past one week, the price volatility of Electrameccanica Vehicles Corp. stands at 11.33% while the volatility over the past one month is 9.33%.
The market cap for SOLO stock reached $161.81 million, with 118.45 million shares outstanding and 107.19 million shares in the current float. Compared to the average trading volume of 1.34M shares, SOLO reached a trading volume of 6305500 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $9.50 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 1.70. 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 0.13, with the Price to Sales ratio for SOLO stock in the period of the last 12 months amounting to 53.94. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 1.53.
How has SOLO stock performed recently?
Electrameccanica Vehicles Corp. [SOLO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.79. With this latest performance, SOLO shares dropped by -20.13% in over the last four-week period, additionally sinking by -46.64% over the last 6 months – not to mention a drop of -71.20% 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 39.94, with the RSI for the last a single of trading hit 38.82, and the three-weeks RSI is set at 40.63 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 1.5754, while it was recorded at 1.3560 for the last single week of trading, and 2.3896 for the last 200 days.
Electrameccanica Vehicles Corp. [SOLO]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Electrameccanica Vehicles Corp. [SOLO] shares currently have an operating margin of -2893.97 and a Gross Margin at -308.71. Electrameccanica Vehicles Corp.’s Net Margin is presently recorded at -1967.22.
Return on Equity for this stock declined to -22.59, with Return on Assets sitting at -20.74.
Electrameccanica Vehicles Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 34.00 and a Current Ratio set at 35.00.
Insider trade positions for Electrameccanica Vehicles Corp. [SOLO]
There are presently around $20 million, or 13.10% of SOLO stock, in the hands of institutional investors. The top three institutional holders of SOLO stocks are: INVESCO LTD. with ownership of 7,540,114, which is approximately -5.166% of the company’s market cap and around 10.69% of the total institutional ownership; STATE STREET CORP, holding 1,337,154 shares of the stock with an approximate value of $1.78 million in SOLO stocks shares; and BAIRD FINANCIAL GROUP, INC., currently with $1.24 million in SOLO stock with ownership of nearly 38.167% 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 25 institutional holders increased their position in Electrameccanica Vehicles Corp. [NASDAQ:SOLO] by around 1,006,606 shares. Additionally, 50 investors decreased positions by around 4,992,672 shares, while 22 investors held positions by with 9,136,795 shares. The mentioned changes placed institutional holdings at 15,136,073 shares, according to the latest SEC report filing. SOLO stock had 11 new institutional investments in for a total of 174,560 shares, while 19 institutional investors sold positions of 722,073 shares during the same period.