The stock of Electrameccanica Vehicles Corp. (NASDAQ:SOLO) last traded at $0.60, down -8.67% from the previous session.
Data from the available sources indicates that Electrameccanica Vehicles Corp. (NASDAQ:SOLO) is covered by 1 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $4.40 and a low of $4.40, we find $4.40. Given the previous closing price of $0.66, this indicates a potential upside of 566.67 percent. SOLO stock price is now -31.21% away from the 50-day moving average and -49.05% away from the 200-day moving average. The market capitalization of the company currently stands at $72.67M.
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In total, 0 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $4.40 as their price target over the next twelve months.
With the price target of $9, Stifel recently initiated with Buy rating for Electrameccanica Vehicles Corp. (NASDAQ: SOLO)., while ‘The Benchmark Company’ rates the stock as ‘Speculative Buy’.
Insiders disposed of 309,134 shares of company stock worth roughly $0.19 million over the past 1 year. A total of 9.55% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SOLO stock. A new stake in Electrameccanica Vehicles Corp. shares was purchased by HRT FINANCIAL LP during the first quarter worth $238,000. JANE STREET GROUP, LLC invested $131,000 in shares of SOLO during the first quarter. In the first quarter, ALPINE GLOBAL MANAGEMENT, LLC acquired a new stake in Electrameccanica Vehicles Corp. valued at approximately $86,000. VIRTU FINANCIAL LLC acquired a new stake in SOLO for approximately $39,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in SOLO valued at around $26,000 in the second quarter. In total, there are 64 active investors with 9.00% ownership of the company’s stock.
With an opening price of $0.6597 on Thursday morning, Electrameccanica Vehicles Corp. (NASDAQ: SOLO) set off the trading day. During the past 12 months, Electrameccanica Vehicles Corp. has had a low of $0.57 and a high of $2.44. As of last week, the company has a debt-to-equity ratio of 0.10, a current ratio of 26.60, and a quick ratio of 25.30. The fifty day moving average price for SOLO is $0.8760 and a two-hundred day moving average price translates $1.1827 for the stock.
The latest earnings results from Electrameccanica Vehicles Corp. (NASDAQ: SOLO) was released for Sep, 2022. According to the Auto Manufacturers Company, earnings per share came in at -$0.18, missing analysts’ expectations of -$0.12 by -0.06. This compares to -$0.11 EPS in the same period last year. The company reported revenue of $1.44 million for the quarter, compared to $0.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1209.09 percent. For the current quarter, analysts expect SOLO to generate $2.92M in revenue.
Electrameccanica Vehicles Corp.(SOLO) Company Profile
Electrameccanica Vehicles Corp., a development-stage company, develops, manufactures, and sells electric vehicles in Canada. The company operates in two segments, Electric Vehicles and Custom Build Vehicles. Its flagship product is the SOLO, a single seat vehicle. The company is also developing Tofino, an all-electric two-seater roadster. It also develops and manufactures custom built vehicles. The company sells its vehicles online through electrameccanica.com, as well as through 17 retail locations. Electrameccanica Vehicles Corp. was incorporated in 2015 and is headquartered in Burnaby, Canada.
