Electrameccanica Vehicles Corp. (SOLO): Find Out What Insiders Are Doing

Electrameccanica Vehicles Corp. (NASDAQ:SOLO) trading with a subtraction of -$0.09 to $3.38 on Thursday, a downside of -2.52 percent. An average of 1,547,641 shares of common stock have been traded in the last five days. There was a gain of $0.08 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 2,642,080 shares traded, while the 50-day average volume stands at 2,333,352.

SOLO stock has increased by 6.12% 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 $2.45 and a high of $13.60 in 52 weeks. It has reached a new high 7 times so far this year and lost -43.94% or -$2.78 in price. In spite of this, the price is down -75.13% 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 31.25 for the sector. The stock’s beta is 2.61. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 400.09, the price-to-book (PB) ratio at 1.51.

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 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 -$63.05 million in the quarter, while revenues were grew 62.65%. 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 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 13 October was 50.28%, suggesting the stock is Neutral, with historical volatility in this time frame at 38.57%.

As of today, SOLO’s price is $3.37 +2.44% or $0.08 from its 5-day moving average. SOLO is currently trading +0.63% higher than its 20-day SMA and +2.13% higher than its 100-day SMA. However, the stock’s current price level is +0.93% above the SMA50 and -48.16% below the SMA200.

The stochastic %K and %D were 31.64% and 25.02%, respectively, and the average true range (ATR) was 0.16. With the 14-day stochastic at 30.43% and the average true range at 0.17, the RSI (14) stands at 49.34%. The stock has reached 0.09 on the 9-day MACD Oscillator while the 14-day reading was at -0.02.

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 $11.22 and $15.32, with a median target of $13.27. Taking a look at these predictions, the average price target given by analysts for Electrameccanica Vehicles Corp. (SOLO) stock is $13.27.


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