Home  »  Finance   »  Analysts Discuss Electrameccanica Vehicles Corp.&#...

Analysts Discuss Electrameccanica Vehicles Corp.’s (SOLO) Potential

Electrameccanica Vehicles Corp. (NASDAQ:SOLO) concluded the trading at $1.15 on Wednesday, November 23 without any change from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $1.15 and 5Y monthly beta was reading 2.27 with its price kept floating in the range of $1.12 and $1.15 on the day. Considering stock’s 52-week price range provides that SOLO hit a high price of $3.27 and saw its price falling to a low level of $1.01 during that period. Over a period of past 1-month, stock came adding 1.77% in its value.

Do You Own These 7 Inflation-Survival Stocks?

Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.

Click here to get your free copy of the report


With its current market valuation of $135.62 million, Electrameccanica Vehicles Corp. is set to declare its quarterly results on Nov 14, 2022. Analysts are in estimates of -$0.12 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$0.44 for 2022 with estimates of that growing to -$0.37 in next year. These estimates are suggesting current year growth of -22.20% for EPS and 15.90% growth next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $1.49 million. They suggested that in the process company could generate revenue of as low as $1.48 million which could climb up to $1.5 million to hit a high. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $6.24 million in 2022, which will be 203.80% more from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review SOLO stock’s current outlook then short term indicators are assigning it an average of 50% Sell, while medium term indicators are categorizing the stock at an average of 100% Sell. Long term indicators are suggesting an average of 100% Sell for it.

Digging deeper we become aware of the PEG ratio of the SOLO stock which is currently positioned at 0. It further provides that stock’s current price level is -3.52% away from its 20-day simple moving average and is -3.96% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 46.23 while volatility remained at 4.90% over the past week which changes to 6.96% when measuring it over the past month. Beta is valued at 2.21, while measure of average true range or ATR is currently at 0.08.

Having a second look at Electrameccanica Vehicles Corp. (NASDAQ:SOLO) provides that stock’s average daily trading volume for 3 months was 679.63K, while it jumped to 0.74 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 118.85 million.

The percentage of outstanding shares held by the insiders is 9.56% while it is 9.00% for the institutional holders. The figures also indicate that as of Oct 13, 2022, number of stock’s short shares was 13.29 million which implies a short ratio of 17.57. This shows down a 11.18% of Short Interest in company’s outstanding shares on the day. In October the standing of shares short improved as it was 14.03 million in the previous month. Subtraction of -49.56% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

Leave a Comment

Your email address will not be published. Required fields are marked *