Electrameccanica Vehicles Corp. (NASDAQ: SOLO) is -20.36% lower on its value in year-to-date trading and has touched a low of $0.90 and a high of $13.60 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SOLO stock was last observed hovering at around $4.70 in the last trading session, with the day’s gains setting it 0.23% off its average median price target of $10.38 for the next 12 months. It is also 67.67% off the consensus price target high of $15.25 offered by 4 analysts, but current levels are 43.91% higher than the price target low of $8.79 for the same period.
Currently trading at $4.93, the stock is -5.74% and -26.07% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.19 million and changing 4.89% at the moment leaves the stock 2.42% off its SMA200. SOLO registered 397.98% gain for a year compared to 6-month gain of 97.99%. The firm has a 50-day simple moving average (SMA 50) of $5.7724 and a 200-day simple moving average (SMA200) of $5.6869.
The stock witnessed a -12.90% loss in the last 1 month and extending the period to 3 months gives it a -25.42%, and is 3.79% up 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 7.29% over the week and 9.67% over the month.
Electrameccanica Vehicles Corp. (SOLO) has around 119 employees, a market worth around $530.71M and $0.60M in sales. Distance from 52-week low is 447.78% and -63.75% from its 52-week high. The company has generated returns on investments over the last 12 months (-21.70%).
Electrameccanica Vehicles Corp. (SOLO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Electrameccanica Vehicles Corp. (SOLO) is a “Buy”. 4 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 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 08/30/2021.The EPS is expected to shrink by -26.50% this year.
Electrameccanica Vehicles Corp. (SOLO) Top Institutional Holders
70 institutions hold shares in Electrameccanica Vehicles Corp. (SOLO), with 17.47M shares held by insiders accounting for 15.47% while institutional investors hold 12.85% of the company’s shares. Institutions hold 10.86% of the Float.
The top institutional shareholder in the company is Invesco Ltd. with over 5.92 million shares valued at $36.62 million. The investor’s holdings represent 18.28% of the SOLO Shares outstanding. As of Dec 30, 2020, the second largest holder is Susquehanna International Group, LLP with 1.74 million shares valued at $10.75 million to account for 5.37% of the shares outstanding. The other top investors are Citigroup Inc. which holds 0.48 million shares representing 1.50% and valued at over $3.0 million, while Jane Street Group, LLC holds 1.46% of the shares totaling 0.47 million with a market value of $2.93 million.