Electrameccanica Vehicles (NASDAQ:SOLO) Downgraded by Zacks Investment Research to Sell

Electrameccanica Vehicles (NASDAQ:SOLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Electrameccanica Vehicles Corp. is engaged in the planning, development and manufacturing of single person electric vehicles. Electrameccanica Vehicles Corp. is headquartered in Vancouver, Canada. “

Separately, ValuEngine lowered Electrameccanica Vehicles from a “hold” rating to a “sell” rating in a research note on Saturday, December 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $5.19.

NASDAQ:SOLO traded down $0.02 during mid-day trading on Wednesday, reaching $2.26. The company’s stock had a trading volume of 4,100 shares, compared to its average volume of 413,210. The company’s fifty day simple moving average is $2.19 and its two-hundred day simple moving average is $2.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.81 and a quick ratio of 9.45. Electrameccanica Vehicles has a twelve month low of $1.18 and a twelve month high of $6.74. The stock has a market cap of $85.22 million, a P/E ratio of -4.04 and a beta of 1.61.

Electrameccanica Vehicles (NASDAQ:SOLO) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Electrameccanica Vehicles had a negative return on equity of 70.32% and a negative net margin of 4,112.97%. The firm had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.60 million. Sell-side analysts expect that Electrameccanica Vehicles will post -0.62 EPS for the current fiscal year.

Electrameccanica Vehicles Company Profile

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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