Electrameccanica Vehicles Corp (NASDAQ:SOLO) Sees Significant Decrease in Short Interest

Electrameccanica Vehicles Corp (NASDAQ:SOLO) saw a significant decline in short interest in June. As of June 30th, there was short interest totalling 712,800 shares, a decline of 5.3% from the May 30th total of 752,400 shares. Based on an average trading volume of 406,400 shares, the short-interest ratio is presently 1.8 days. Approximately 5.0% of the company’s stock are short sold.

SOLO stock opened at $2.82 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 17.01 and a quick ratio of 16.61. The company has a market capitalization of $104.53 million, a P/E ratio of -7.23 and a beta of 1.59. Electrameccanica Vehicles has a 12 month low of $0.90 and a 12 month high of $7.48. The business has a 50 day simple moving average of $2.60.

Electrameccanica Vehicles (NASDAQ:SOLO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.08). The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.56 million. Electrameccanica Vehicles had a negative return on equity of 98.03% and a negative net margin of 3,920.55%. As a group, sell-side analysts expect that Electrameccanica Vehicles will post -0.31 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Electrameccanica Vehicles stock. Advisory Services Network LLC acquired a new position in shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,100 shares of the company’s stock, valued at approximately $104,000. Advisory Services Network LLC owned 0.08% of Electrameccanica Vehicles at the end of the most recent quarter. Institutional investors and hedge funds own 2.98% of the company’s stock.

Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. ThinkEquity assumed coverage on shares of Electrameccanica Vehicles in a research report on Thursday, March 28th. They issued a “buy” rating and a $6.00 target price for the company. Roth Capital assumed coverage on shares of Electrameccanica Vehicles in a research report on Tuesday, July 9th. They issued a “buy” rating for the company. Finally, Benchmark assumed coverage on shares of Electrameccanica Vehicles in a research report on Wednesday, March 20th. They issued a “speculative buy” rating and a $6.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Electrameccanica Vehicles currently has a consensus rating of “Hold” and a consensus target price of $5.25.

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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