In the last trading session, 9,249,377 shares of the Electrameccanica Vehicles Corp.(NASDAQ:SOLO) were traded, and its beta was 2.86. Most recently the company’s share price was $7.27, and it changed around -$0.01 or 0% from the last close, which brings the market valuation of the company to $716.48 Million. SOLO currently trades at a discount to its 52-week high of $13.6, offering almost -87.07% off that amount. The share price’s 52-week low was $0.89, which indicates that the current value has risen by an impressive 87.76% since then. We note from Electrameccanica Vehicles Corp.’s average daily trading volume that its 10-day average is 11.27 Million shares, with the 3-month average coming to 18.63 Million.
Electrameccanica Vehicles Corp. stock received a consensus recommendation rating of Buy, based on a mean score of 0. If we narrow it down even further, the data shows that none out of 4 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended SOLO as a Hold, whereas 4 deemed it a Buy, and no one rated it as Underweight.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO): Trading Information
Although SOLO has showed a red trend with a performance of -0.14% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $8.24- on Tuesday, Feb 16 increased the stock’s daily price by 11.77%. The company’s shares are currently up 0.17% year-to-date, but still down -0.0821 over the last five days. On the other hand, Electrameccanica Vehicles Corp. (NASDAQ:SOLO) is -0.04% down in the 30-day period. We can see from the shorts that 11.38 Million shares have been sold at a short interest cover period of 0.61 day(s).
The consensus price target as assigned by Wall Street analysts is $12.14, which translates to bears needing to increase their stock price by 66.99% from its current value. Analyst projections state that SOLO is forecast to be at a low of $9.55 and a high of $16.04. In order for the stock price to hit the forecast high, the stock would need to surge +120.63% from its current level, while the stock would need to crash 31.36% from its current level to reach the projected low.
Electrameccanica Vehicles Corp. (SOLO) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Electrameccanica Vehicles Corp. earnings are expected to decrease by -126.2% in 2021, but the outlook is negative 0% per year for the next five years.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 22.17% of Electrameccanica Vehicles Corp. shares, and 5.33% of them are in the hands of institutional investors. The stock currently has a share float of 6.84%. Electrameccanica Vehicles Corp. stock is held by 40 institutions, with Invesco Ltd. being the largest institutional investor. By Sep 29, 2020, it held 4.2% of the shares, which is about 1.36 Million shares worth $3.39 Million.
Susquehanna International Group, LLP, with 2.96% or 957.79 Thousand shares worth $2.38 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.
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