Electrameccanica Vehicles Corp (NASDAQ:SOLO) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 2,480,000 shares, a decline of 18.2% from the August 31st total of 3,030,000 shares. Based on an average trading volume of 13,460,000 shares, the days-to-cover ratio is presently 0.2 days.
NASDAQ SOLO opened at $2.49 on Thursday. The firm’s 50-day moving average is $2.67 and its two-hundred day moving average is $2.06. Electrameccanica Vehicles has a 12 month low of $0.89 and a 12 month high of $6.00. 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 stock has a market capitalization of $182.82 million, a P/E ratio of -4.79 and a beta of 1.78.
Electrameccanica Vehicles (NASDAQ:SOLO) last posted its earnings results on Tuesday, August 11th. The company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.08). Electrameccanica Vehicles had a negative net margin of 4,274.44% and a negative return on equity of 94.40%. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.14 million. As a group, analysts anticipate that Electrameccanica Vehicles will post -0.41 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ETRADE Capital Management LLC purchased a new stake in Electrameccanica Vehicles during the second quarter worth about $36,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Electrameccanica Vehicles during the second quarter worth about $39,000. Advisor Group Holdings Inc. increased its stake in Electrameccanica Vehicles by 71.4% during the second quarter. Advisor Group Holdings Inc. now owns 45,600 shares of the company’s stock worth $102,000 after purchasing an additional 19,000 shares during the period. Royal Bank of Canada increased its stake in Electrameccanica Vehicles by 95.7% during the first quarter. Royal Bank of Canada now owns 61,350 shares of the company’s stock worth $63,000 after purchasing an additional 30,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Electrameccanica Vehicles during the second quarter worth about $97,000. 2.01% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on SOLO shares. Aegis reissued a “buy” rating and set a $4.00 price target on shares of Electrameccanica Vehicles in a research report on Monday, July 6th. ValuEngine raised shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating in a research report on Tuesday, July 28th. Finally, Zacks Investment Research cut shares of Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a research report on Thursday, August 13th.
About Electrameccanica Vehicles
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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