Value gained By Electrameccanica Vehicles Corp. (SOLO) In The Past Week: $3.56

Electrameccanica Vehicles Corp. (NASDAQ:SOLO) finished Thursday with an addition of $0.1 to close at $3.33, an upside of 3.10 percent. An average of 3,074,700 shares of common stock have been traded in the last five days. There was a fall of -$0.23 in the past week. The last 20 days have seen an average of 2,665,755 shares traded, while the 50-day average volume stands at 2,355,640.

SOLO stock has decreased by -2.35% in the last month. The company shares reached their 1-month lowest point of $3.18 on 10/04/21. With the stock rallying to its 52-week high on 02/04/21, shares of the company touched a low of $2.42 and a high of $13.60 in 52 weeks. In spite of this, the price is down -75.51% from the 52-week high.

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Valuation Metrics

Electrameccanica Vehicles Corp. (SOLO) has a trailing price-to-earnings (P/E) ratio of 15.45 for the broader industry and 20.37 for the sector. This means investors are optimistic about the stock’s future prospects. The stock’s beta is 2.62. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 392.97, the price-to-book (PB) ratio at 1.45.

The quick ratio of Electrameccanica Vehicles Corp. for the three months ended June 29 was 45.40, and the current ratio was 45.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.01 For the recent quarter ending June 29. Electrameccanica Vehicles Corp.’s EBITDA margin for the year ending June 29 is -4504.12%. Its gross profit as reported stood at -$0.13 million compared to revenue of $0.57 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. Electrameccanica Vehicles Corp.’s return on assets was -143.7% over the last five years. In the past year, the return on investment has been -21.70%, and the 5-year average is -185.9%. For the broader industry, ROE averaged 10.14 over the past year.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $0.57 million in the quarter, while revenues of $0.0 were shrunk -3.51%. The analyst consensus anticipated Electrameccanica Vehicles Corp.’s latest quarter earnings to come in at -$0.08 per share, but it turned out to be -$0.1, a -25.00% surprise. For the recent quarter, EBITDA amounted to -$14.33 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Electrameccanica Vehicles Corp. (SOLO) price momentum. RSI 9-day as of the close on 07 October was 44.02%, suggesting the stock is Neutral, with historical volatility in this time frame at 76.97%.

As of today, SOLO’s price is $3.31 -6.46% or -$0.23 from its 5-day moving average. SOLO is currently trading -3.20% lower than its 20-day SMA and +0.60% higher than its 100-day SMA. However, the stock’s current price level is -4.86% below the SMA50 and -55.00% below the SMA200.

The stochastic %K and %D were 14.04% and 15.50%, respectively, and the average true range (ATR) was 0.19. With the 14-day stochastic at 19.74% and the average true range at 0.19, the RSI (14) stands at 45.55%. The stock has reached -0.19 on the 9-day MACD Oscillator while the 14-day reading was at -0.18.

Analyst Ratings

Stifel launched coverage on Electrameccanica Vehicles Corp. (NASDAQ: SOLO) in its analyst report released on December 17, 2020. The firm assigned the stock a a Buy rating.The consensus rating for Electrameccanica Vehicles Corp. (SOLO) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SOLO, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is SOLO’s price target for the next 12 months?

Analysts predict a range of price targets between $11.32 and $15.32, with a median target of $13.32. Taking a look at these predictions, the average price target given by analysts for Electrameccanica Vehicles Corp. (SOLO) stock is $13.32.


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