Electrameccanica Vehicles Corp. [SOLO] Is Currently 20.59 above its 200 Period Moving Avg: What Does This Mean?


Electrameccanica Vehicles Corp. [NASDAQ: SOLO] price surged by 20.59 percent to reach at $0.28. 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.

A sum of 3460727 shares traded at recent session while its average daily volume was at 1.37M shares. Electrameccanica Vehicles Corp. shares reached a high of $1.65 and dropped to a low of $1.3879 until finishing in the latest session at $1.64.

The one-year SOLO stock forecast points to a potential upside of 82.74. The average equity rating for SOLO stock is currently 1.70, trading closer to a bullish pattern in the stock market.

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 $9.50 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 68.38. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 1.56.

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 29.13. With this latest performance, SOLO shares gained by 4.46% in over the last four-week period, additionally sinking by -31.67% over the last 6 months – not to mention a drop of -56.73% 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 59.49, with the RSI for the last a single of trading hit 66.48, and the three-weeks RSI is set at 55.02 for Electrameccanica Vehicles Corp. [SOLO]. The present Moving Average for the last 50 days of trading for this stock 1.5296, while it was recorded at 1.4020 for the last single week of trading, and 2.3404 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 -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.

Electrameccanica Vehicles Corp. [SOLO] Insider Position Details

There are presently around $25 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 $2.19 million in SOLO stocks shares; and BAIRD FINANCIAL GROUP, INC., currently with $1.53 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 August and at the time of the August 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.