The stock of Electrameccanica Vehicles Corp. (NASDAQ:SOLO) increased by $0.12 on Tuesday to $0.79, up 16.89 percent. The last five days have seen an average of 671,395 shares of common stock traded. 8 times new highs were reached in the current year, with a gain of $0.1694. The average number of shares traded over the last 20 days was 599,239, while the average volume over the last 50 days totaled 1,012,762.
SOLO stock appreciated 2.32% since last month. On 08/14/23, the company’s shares reached a one-month low of $0.6525. The stock touched a high of $1.87 on 02/01/23, after rallying from a low of $0.44 in 52 weeks. The price of SOLO stock has risen by 30.03% or $0.1694 this year, reaching a new high 8 times. Still, the stock price is down -58.02% from the 52-week high.
Valuation Metrics
Beta for the stock is 2.75. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 20.25, the price-to-book (PB) ratio of 0.90.
Financial Health
For the three months ended June 29, Electrameccanica Vehicles Corp.’s quick ratio was 18.20, while its current ratio was 18.70, indicating its ability to pay off its debt. Based on annual data, it had gross profit of -$26.25 million and revenue of $6.81 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a -99.00% return on investment (ROI) in the past year.
Earnings Surprise
According to Electrameccanica Vehicles Corp.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at -$0.2 million, while revenues rose by 100.0% to $0.5 million. It was predicted that Electrameccanica Vehicles Corp.’s quarterly earnings would be -$0.1, but it ended up being -$0.12, beating the consensus by 16.70%. EBITDA was -$12.74 million for the quarter. At the end of Electrameccanica Vehicles Corp.’s most recent quarter ended June 29, its liabilities totaled 21.39 million, while its total debt was $17.29 million.
Technical Picture
Here’s a quick look at Electrameccanica Vehicles Corp.’s (SOLO) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 58.83%, suggesting the stock is Neutral, with a 86.71% historical volatility rate.
The stochastic %K and %D were 26.93% and 17.97% respectively, while the average true range (ATR) was 0.0640. Based on the 14-day stochastic reading of 65.76%, the RSI (14) reading is 56.36%. On the 9-day MACD Oscillator, the stock is at -0.0224, and the 14-day reading is at -0.0342.
Analyst Ratings
In its analyst report released on December 17, 2020, Stifel began covering Electrameccanica Vehicles Corp. (NASDAQ: SOLO). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Electrameccanica Vehicles Corp. (SOLO) an Buy rating. SOLO is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is SOLO’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.50 and $1.50, with a median target price of $1.50. In analyzing these forecasts, the average price target given by analysts for Electrameccanica Vehicles Corp. (SOLO) is $1.50.
