Electrameccanica Vehicles Corp. (SOLO) Stock Could Soon Reward Patient Investors

Electrameccanica Vehicles Corp. (NASDAQ: SOLO) is 40.00% higher on its value in year-to-date trading and has touched a low of $0.89 and a high of $6.00 in the current 52-week trading range. The SOLO stock was last observed hovering at around $3.01 in the last trading session, with the day’s gains setting it 0.44% off its average median price target of $5.75 for the next 12 months. It is also 54.0% off the consensus price target high of $7.50 offered by 2 analysts, but current levels are 13.75% higher than the price target low of $4.00 for the same period.

Currently trading at $3.45, the stock is -3.82% and 45.58% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.75 million and changing 14.62% at the moment leaves the stock 82.98% off its SMA200. SOLO registered 1.01% gain for a year compared to 6-month loss of 41.98%. The firm has a 50-day simple moving average (SMA 50) of $2.8826 and a 200-day simple moving average (SMA200) of $1.8244.

The stock witnessed a 64.48% gain in the last 1 month and extending the period to 3 months gives it a 186.67%, and is -8.51% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.15% over the week and 18.50% over the month.

Electrameccanica Vehicles Corp. (SOLO) has around 63 employees, a market worth around $200.07M and $0.60M in sales. Distance from 52-week low is 287.60% and -42.50% from its 52-week high. The company has generated returns on investments over the last 12 months (-133.50%).

Electrameccanica Vehicles Corp. (SOLO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Electrameccanica Vehicles Corp. (SOLO) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 2.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Electrameccanica Vehicles Corp. is expected to release its quarterly report on 08/31/2020 and quarterly earnings per share for the current quarter are estimated at -$0.13 with sales reaching $80k over the same period.The EPS is expected to shrink by -126.20% this year, but quarterly earnings will post 60.90% year-over-year. Quarterly sales are estimated to shrink -48.70% in year-over-year returns.

Electrameccanica Vehicles Corp. (SOLO) Top Institutional Holders

18 institutions hold shares in Electrameccanica Vehicles Corp. (SOLO), with 17.75M shares held by insiders accounting for 47.90% while institutional investors hold 0.86% of the company’s shares. The shares outstanding are 37.05M, and float is at 30.52M with Short Float at 8.81%. Institutions hold 0.45% of the Float.