Electrameccanica Vehicles Corp (NASDAQ:SOLO) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,030,000 shares, an increase of 45.7% from the August 15th total of 2,080,000 shares. Based on an average daily volume of 13,960,000 shares, the short-interest ratio is presently 0.2 days.
Shares of Electrameccanica Vehicles stock traded up $0.03 during trading on Wednesday, reaching $2.64. 111,379 shares of the stock were exchanged, compared to its average volume of 6,070,363. The company has a quick ratio of 25.62, a current ratio of 26.20 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $2.86 and its 200 day moving average is $2.00. The firm has a market cap of $191.63 million, a price-to-earnings ratio of -5.02 and a beta of 1.78. Electrameccanica Vehicles has a 1 year low of $0.89 and a 1 year high of $6.00.
Electrameccanica Vehicles (NASDAQ:SOLO) last posted its earnings results on Tuesday, August 11th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.08). The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.14 million. Electrameccanica Vehicles had a negative return on equity of 94.40% and a negative net margin of 4,274.44%. Equities analysts forecast that Electrameccanica Vehicles will post -0.41 earnings per share for the current year.
Several brokerages have issued reports on SOLO. ValuEngine raised Electrameccanica Vehicles from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. Zacks Investment Research lowered Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Aegis reaffirmed a “buy” rating and issued a $4.00 target price on shares of Electrameccanica Vehicles in a research note on Monday, July 6th.
Institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. purchased a new stake in shares of Electrameccanica Vehicles during the first quarter worth about $28,000. ETRADE Capital Management LLC purchased a new stake in Electrameccanica Vehicles in the second quarter worth about $36,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Electrameccanica Vehicles in the second quarter worth about $39,000. Royal Bank of Canada lifted its holdings in Electrameccanica Vehicles by 95.7% in the first quarter. Royal Bank of Canada now owns 61,350 shares of the company’s stock worth $63,000 after buying an additional 30,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Electrameccanica Vehicles in the second quarter worth about $97,000. Institutional investors own 2.01% of the company’s stock.
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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