Electrameccanica Vehicles (NASDAQ:SOLO) Research Coverage Started at Roth Capital

Roth Capital began coverage on shares of Electrameccanica Vehicles (NASDAQ:SOLO) in a research report report published on Tuesday, BenzingaRatingsTable reports. The brokerage issued a buy rating on the stock.

Other research analysts have also issued reports about the company. ThinkEquity assumed coverage on Electrameccanica Vehicles in a report on Thursday, March 28th. They set a buy rating and a $6.00 target price on the stock. Benchmark initiated coverage on Electrameccanica Vehicles in a research report on Wednesday, March 20th. They issued a speculative buy rating and a $6.00 price target for the company. Finally, Zacks Investment Research lowered Horiba from a hold rating to a sell rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $5.25.

NASDAQ:SOLO opened at $2.86 on Tuesday. The business’s 50-day moving average price is $2.57. The firm has a market capitalization of $107.84 million, a price-to-earnings ratio of -7.33 and a beta of 1.58. Electrameccanica Vehicles has a 52-week low of $0.90 and a 52-week high of $7.48. The company has a current ratio of 17.01, a quick ratio of 16.61 and a debt-to-equity ratio of 0.06.

Electrameccanica Vehicles (NASDAQ:SOLO) last released its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.56 million. Electrameccanica Vehicles had a negative return on equity of 98.03% and a negative net margin of 3,920.55%. On average, equities analysts anticipate that Electrameccanica Vehicles will post -0.31 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Electrameccanica Vehicles stock. 1492 Capital Management LLC purchased a new stake in Electrameccanica Vehicles Corp (NASDAQ:SOLO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 180,842 shares of the company’s stock, valued at approximately $193,000. 1492 Capital Management LLC owned 0.56% of Electrameccanica Vehicles as of its most recent SEC filing. Hedge funds and other institutional investors own 2.98% of the company’s stock.

About Electrameccanica Vehicles

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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