Electrameccanica Vehicles Corp (NASDAQ:SOLO) shares fell 5.8% during mid-day trading on Thursday . The stock traded as low as $1.66 and last traded at $1.70, 286,268 shares traded hands during mid-day trading. A decline of 83% from the average session volume of 1,689,617 shares. The stock had previously closed at $1.80.
Several research firms have issued reports on SOLO. Zacks Investment Research upgraded Electrameccanica Vehicles from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research note on Wednesday, April 1st. Benchmark lowered Electrameccanica Vehicles to a “hold” rating in a research note on Friday, April 3rd. ValuEngine upgraded Electrameccanica Vehicles from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Aegis dropped their price target on Electrameccanica Vehicles from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $2.63.
The firm has a market cap of $52.08 million, a PE ratio of -7.20 and a beta of 1.65. The company has a quick ratio of 4.32, a current ratio of 4.55 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $1.11 and a two-hundred day moving average price of $1.63.
Electrameccanica Vehicles (NASDAQ:SOLO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. Electrameccanica Vehicles had a negative return on equity of 83.31% and a negative net margin of 1,527.14%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Electrameccanica Vehicles in the fourth quarter valued at approximately $84,000. Advisor Group Holdings Inc. purchased a new stake in Electrameccanica Vehicles in the first quarter valued at approximately $28,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Electrameccanica Vehicles by 1,650.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,000 shares of the company’s stock valued at $45,000 after buying an additional 19,800 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in Electrameccanica Vehicles by 46.5% in the fourth quarter. Advisory Services Network LLC now owns 19,925 shares of the company’s stock valued at $43,000 after buying an additional 6,325 shares during the last quarter. Hedge funds and other institutional investors own 0.89% of the company’s stock.
About Electrameccanica Vehicles (NASDAQ:SOLO)
Electrameccanica Vehicles Corp., a development-stage company, plans, develops, manufactures, and sells single person electric vehicles under the SOLO name for mass markets. It operates in two segments, Electric Vehicles and Custom Build Vehicles. The company also develops and manufactures high end custom built vehicles.
See Also: Liquidity
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