Electrameccanica Vehicles (NASDAQ:SOLO) Shares Gap Up to $2.33

Electrameccanica Vehicles Corp (NASDAQ:SOLO) shares gapped up before the market opened on Thursday . The stock had previously closed at $2.13, but opened at $2.33. Electrameccanica Vehicles shares last traded at $3.13, with a volume of 128,369,777 shares traded.

Several analysts have recently commented on the stock. Benchmark downgraded shares of Electrameccanica Vehicles to a “hold” rating in a report on Friday, April 3rd. Zacks Investment Research upgraded shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Wednesday, April 1st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Electrameccanica Vehicles has a consensus rating of “Buy” and a consensus price target of $2.63.

The firm has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.64. The company has a current ratio of 4.55, a quick ratio of 4.32 and a debt-to-equity ratio of 0.04.

Electrameccanica Vehicles (NASDAQ:SOLO) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Electrameccanica Vehicles had a negative return on equity of 83.31% and a negative net margin of 1,527.14%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million.

Institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Electrameccanica Vehicles by 1,650.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,000 shares of the company’s stock valued at $45,000 after acquiring an additional 19,800 shares during the period. Advisor Group Holdings Inc. purchased a new position in Electrameccanica Vehicles during the first quarter worth approximately $28,000. Finally, Royal Bank of Canada boosted its position in Electrameccanica Vehicles by 95.7% during the first quarter. Royal Bank of Canada now owns 61,350 shares of the company’s stock worth $63,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 0.89% of the company’s stock.

About Electrameccanica Vehicles (NASDAQ:SOLO)

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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