Electrameccanica Vehicles Corp. (NASDAQ: SOLO) Has Been Falling -41.84% Year-To-Date. Troubles Yet To Come? – Marketing Sentinel
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Electrameccanica Vehicles Corp. (NASDAQ: SOLO) Has Been Falling -41.84% Year-To-Date. Troubles Yet To Come?

During the recent session, Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s traded shares were 1.25 million, with the beta value of the company hitting 2.69. At the last check today, the stock’s price was $3.47, reflecting an intraday loss of -3.54% or -$0.13. The 52-week high for the SOLO share is $13.60, that puts it down -291.93 from that peak though still a striking 32.56% gain since the share price plummeted to a 52-week low of $2.34. The company’s market capitalization is $386.46M, and the average intraday trading volume over the past 10 days was 2.01 million shares, and the average trade volume was 3.13 million shares over the past three months.

Electrameccanica Vehicles Corp. (SOLO) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. SOLO has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.1.

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Electrameccanica Vehicles Corp. (NASDAQ:SOLO) trade information

Electrameccanica Vehicles Corp. (SOLO) registered a -3.54% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -3.54% in intraday trading to $3.47 this Thursday, 09/02/21, hitting a weekly high. The stock’s 5-day price performance is 5.88%, and it has moved by 6.51% in 30 days. Based on these gigs, the overall price performance for the year is 35.85%. The short interest in Electrameccanica Vehicles Corp. (NASDAQ:SOLO) is 17.41 million shares and it means that shorts have 4.08 day(s) to cover.

The consensus price target of analysts on Wall Street is $13.32, which implies an increase of 73.95% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $11.32 and $15.32 respectively. As a result, SOLO is trading at a discount of -341.5% off the target high and -226.22% off the low.

Electrameccanica Vehicles Corp. (SOLO) estimates and forecasts

Statistics show that Electrameccanica Vehicles Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Electrameccanica Vehicles Corp. (SOLO) shares have gone down -28.71% during the last six months, with a year-to-date growth rate more than the industry average at 33.96% against 28.10. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 52.40% this quarter and then jump 43.80% in the quarter after that. In the rating firms’ projections, revenue will increase 601.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $367k as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $550k by the end of Sep 2021.

While earnings are projected to return -26.50% in 2021.

SOLO Dividends

Electrameccanica Vehicles Corp. is due to release its next quarterly earnings between August 09 and August 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s Major holders

Electrameccanica Vehicles Corp. insiders own 15.16% of total outstanding shares while institutional holders control 14.01%, with the float percentage being 16.51%. Invesco Ltd. is the largest shareholder of the company, while 77 institutions own stock in it. As of Mar 30, 2021, the company held over 7.04 million shares (or 21.75% of all shares), a total value of $33.09 million in shares.

The next largest institutional holding, with 1.3 million shares, is of Susquehanna International Group, LLP’s that is approximately 4.03% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $6.13 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Electrameccanica Vehicles Corp. (SOLO) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and KraneShares Electric Vehicles and Future Mobility Index ETF. Data provided on May 30, 2021 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 6.39 million shares. This amounts to just over 19.76 percent of the company’s overall shares, with a $23.98 million market value. The same data shows that the other fund manager holds slightly less at 0.33 million, or about 1.03% of the stock, which is worth about $1.56 million.

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