Electrameccanica Vehicles (NASDAQ:SOLO) Shares Gap Up to $2.56

Electrameccanica Vehicles Corp (NASDAQ:SOLO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $2.56, but opened at $3.16. Electrameccanica Vehicles shares last traded at $2.71, with a volume of 411,988 shares traded.

SOLO has been the topic of several research reports. Aegis reissued a “buy” rating and issued a $4.00 price target on shares of Electrameccanica Vehicles in a research note on Monday, July 6th. ValuEngine raised shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. Finally, Zacks Investment Research downgraded shares of Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a research note on Thursday, August 13th.

The company has a debt-to-equity ratio of 0.01, a current ratio of 26.20 and a quick ratio of 25.62. The business’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $2.04. The company has a market capitalization of $179.15 million, a PE ratio of -4.69 and a beta of 1.78.

Electrameccanica Vehicles (NASDAQ:SOLO) last issued its earnings results on Tuesday, August 11th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). Electrameccanica Vehicles had a negative return on equity of 94.40% and a negative net margin of 4,274.44%. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.14 million. As a group, analysts anticipate that Electrameccanica Vehicles Corp will post -0.41 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Electrameccanica Vehicles in the 2nd quarter valued at approximately $97,000. Two Sigma Securities LLC purchased a new stake in shares of Electrameccanica Vehicles in the 2nd quarter valued at approximately $123,000. Advisor Group Holdings Inc. raised its stake in shares of Electrameccanica Vehicles by 71.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 45,600 shares of the company’s stock valued at $102,000 after acquiring an additional 19,000 shares during the period. ETRADE Capital Management LLC purchased a new stake in shares of Electrameccanica Vehicles in the 2nd quarter valued at approximately $36,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Electrameccanica Vehicles in the 2nd quarter valued at approximately $39,000. 2.01% of the stock is currently owned by institutional investors and hedge funds.

Electrameccanica Vehicles Company Profile (NASDAQ:SOLO)

Electrameccanica Vehicles Corp., a development-stage company, plans, develops, manufactures, and sells single person electric vehicles under the SOLO name for mass markets. It operates in two segments, Electric Vehicles and Custom Build Vehicles. The company also develops and manufactures high end custom built vehicles.

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