Electrameccanica Vehicles Corp. (NASDAQ:SOLO) has a beta value of 2.43 and has seen 1.07 million shares traded in the last trading session. The company, currently valued at $119.66M, closed the last trade at $1.01 per share which meant it gained $0.02 on the day or 2.02% during that session. The SOLO stock price is -141.58% off its 52-week high price of $2.44 and 43.56% above the 52-week low of $0.57. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.39 million shares traded. The 3-month trading volume is 1.01 million shares.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO) trade information
Sporting 2.02% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the SOLO stock price touched $1.01 or saw a rise of 2.88%. Year-to-date, Electrameccanica Vehicles Corp. shares have moved 67.30%, while the 5-day performance has seen it change -3.81%. Over the past 30 days, the shares of Electrameccanica Vehicles Corp. (NASDAQ:SOLO) have changed 24.88%. Short interest in the company has seen 13.29 million shares shorted with days to cover at 17.57.
Wall Street analysts have a consensus price target for the stock at $4.40, which means that the shares’ value could jump 77.05% from current levels. The projected low price target is $4.40 while the price target rests at a high of $4.40. In that case, then, we find that the current price level is -335.64% off the targeted high while a plunge would see the stock gain -335.64% from current levels.
Electrameccanica Vehicles Corp. (SOLO) estimates and forecasts
Figures show that Electrameccanica Vehicles Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -30.34% over the past 6 months, with this year growth rate of -54.05%, compared to -0.70% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -9.10% and 26.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 203.80%.
2 analysts offering their estimates for the company have set an average revenue estimate of $1.49 million for the current quarter. 2 have an estimated revenue figure of $2.88 million for the next quarter concluding in Dec 2022.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -0.80% over the past 5 years.
Electrameccanica Vehicles Corp. is expected to release its next earnings report between March 20 and March 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s Major holders
Insiders own 9.56% of the company shares, while shares held by institutions stand at 11.00% with a share float percentage of 12.16%. Investors are also buoyed by the number of investors in a company, with Electrameccanica Vehicles Corp. having a total of 80 institutions that hold shares in the company. The top two institutional holders are Invesco Ltd. with over 3.93 million shares worth more than $5.31 million. As of Jun 29, 2022, Invesco Ltd. held 12.15% of shares outstanding.
The other major institutional holder is Millennium Management Llc, with the holding of over 1.12 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.51 million and represent 3.45% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and SPDR (R) Ser Tr-SPDRï¿½ Kensho New Economies Composite ETF. As of Sep 29, 2022, the former fund manager holds about 12.82% shares in the company for having 4.15 million shares of worth $5.06 million while later fund manager owns 0.56 million shares of worth $0.68 million as of Sep 29, 2022, which makes it owner of about 1.73% of company’s outstanding stock.