In last trading session, Electrameccanica Vehicles Corp. (NASDAQ:SOLO) saw 1.84 million shares changing hands with its beta currently measuring 2.46. Company’s recent per share price level of $2.13 trading at -$0.08 or -3.62% at ring of the bell on the day assigns it a market valuation of $247.08M. That closing price of SOLO’s stock is at a discount of -357.28% from its 52-week high price of $9.74 and is indicating a premium of 3.29% from its 52-week low price of $2.06. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.29 million shares which gives us an average trading volume of 3.49 million if we extend that period to 3-months.
For Electrameccanica Vehicles Corp. (SOLO), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.70. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.11 in the current quarter.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO) trade information
Upright in the red during last session for losing -3.62%, in the last five days SOLO remained trading in the red while hitting it’s week-highest on Friday, 01/07/22 when the stock touched $2.13 price level, adding 6.58% to its value on the day. Electrameccanica Vehicles Corp.’s shares saw a change of -6.58% in year-to-date performance and have moved -4.05% in past 5-day. Electrameccanica Vehicles Corp. (NASDAQ:SOLO) showed a performance of -18.08% in past 30-days. Number of shares sold short was 15.99 million shares which calculate 4.88 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $12.58 to the stock, which implies a rise of 83.07% to its current value. Analysts have been projecting $8.71 as a low price target for the stock while placing it at a high target of $17.70. It follows that stock’s current price would drop -730.99% in reaching the projected high whereas dropping to the targeted low would mean a loss of -308.92% for stock’s current value.
Electrameccanica Vehicles Corp. (SOLO) estimates and forecasts
Statistics highlight that Electrameccanica Vehicles Corp. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -40.17% of value to its shares in past 6 months, showing an annual growth rate of 30.19% while that of industry is 18.70. Apart from that, the company came raising its revenue forecast for fiscal year 2022. This year revenue growth is estimated to rise 114.60% from the last financial year’s standing.
3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $810k for the same. And 2 analysts are in estimates of company making revenue of $1.61 million in the next quarter that will end on Mar 2022. Company posted $239.81k and $185.02k of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 237.80% while estimating it to be 770.20% for the next quarter.
Electrameccanica Vehicles Corp. is more likely to be releasing its next quarterly report between March 21 and March 25 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s Major holders
Insiders are in possession of 13.03% of company’s total shares while institution are holding 12.81 percent of that, with stock having share float percentage of 14.73%. Investors also watch the number of corporate investors in a company very closely, which is 12.81% institutions for Electrameccanica Vehicles Corp. that are currently holding shares of the company. Invesco Ltd. is the top institutional holder at SOLO for having 7.18 million shares of worth $25.55 million. And as of Sep 29, 2021, it was holding 22.17% of the company’s outstanding shares.
The second largest institutional holder is Susquehanna International Group, LLP, which was holding about 1.39 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 4.30% of outstanding shares, having a total worth of $4.96 million.
On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Direxion Shares ETF Tr-Direxion Moonshot Innovators ETF are the top two Mutual Funds which own company’s shares. As of Oct 30, 2021, the former fund manager was holding 7.0 million shares of worth $24.84 million or 21.62% of the total outstanding shares. The later fund manager was in possession of 0.72 million shares on Oct 30, 2021, making its stake of worth around $2.55 million in the company or a holder of 2.22% of company’s stock.