CIBC World Markets, Inc. recently announced the acquisition of new stake in Electrameccanica Vehicles Corp. (NASDAQ:SOLO). This fresh investment now brings its stake to 1.09% valued currently at $2.21 million. In addition, Susquehanna Financial Group LLLP raised its holdings by 0.16 million to 0.18 million shares. And Renaissance Technologies LLC has lifted its position by 27.71% or 32181.0 shares – to 0.15 million shares.
With over 6.85 million Electrameccanica Vehicles Corp. (SOLO) shares trading Monday and a closing price of $2.82 on the day, the dollar volume was approximately $19.31 million. The shares have shown a negative weekly performance of -0.35% and its price on 08/31/20 gained nearly 0.71%. Currently, there are 46.04M common shares owned by the public and among those 45.69M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for SOLO have a consensus price objective of $5.75. The analysts have set the share’s price value over the next 12 months at a high of $7.50 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Electrameccanica Vehicles Corp. stock is 2.00 for the next 12 months. But an upside of 62.4% will see the stock hit the forecast high price target while mean target price for the stock is $5.75.
The top 3 mutual fund holders in Electrameccanica Vehicles Corp. are Fidelity Nasdaq Composite Index F, Garadasa, SICAV, and Delzapeg, SICAV. Fidelity Nasdaq Composite Index F owns 35747.0 shares of the company’s stock, all valued at over $0.11 million. The company bought an additional 35747.0 shares recently to bring their total holdings to about 0.06% of the shares outstanding. Garadasa, SICAV bought 5060.0 shares to see its total holdings expand to 16841.0 shares valued at over $53218.0 and representing 0.03% of the shares outstanding. Delzapeg, SICAV bought 5029.0 shares to bring its total holdings to over 10997.0 shares at a value of $34751.0. Delzapeg, SICAV now owns shares totaling to 0.02% of the shares outstanding.
Shares of Electrameccanica Vehicles Corp. (NASDAQ: SOLO) opened at $2.75, down -$0.05 from a prior closing price of $2.80. However, the script later closed the day at $2.82, up 0.71%. The company’s stock has a 5-day price change of -0.35% and 138.98% over the past three months. SOLO shares are trading 31.16% year to date (YTD), with the 12-month market performance up to 17.01% higher. It has a 12-month low price of $0.89 and touched a high of $6.00 over the same period. Currently, 6.85 million shares have been traded, compared to an average intraday trading volume of 14.95 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.28%, -8.21%, and 40.68% respectively.
Institutional ownership of Electrameccanica Vehicles Corp. (NASDAQ: SOLO) shares accounts for 2.40% of the company’s 46.04M shares outstanding. Mutual fund holders own 0.12%, while other institutional holders and individual stakeholders account for 2.28% and — respectively.
It has a market capitalization of $186.63M. The earnings-per-share (ttm) stands at -$0.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.02% over the week and 8.36% over the month.
Analysts forecast that Electrameccanica Vehicles Corp. (SOLO) will achieve an EPS of -$0.11 for the current quarter, -$0.14 for the next quarter and -$0.52 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.09. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to decrease by -126.20%, and 8.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Electrameccanica Vehicles Corp. (SOLO) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SOLO, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on July 09, 2019, with the firm’s price target at. The Benchmark Company coverage for the Electrameccanica Vehicles Corp. (SOLO) stock in a research note released on March 20, 2019 offered a Speculative Buy rating with a price target of $6.