Citadel Securities LLC recently announced the acquisition of new stake in Electrameccanica Vehicles Corp (NASDAQ:SOLO). This fresh investment now brings its stake to 0.08% valued currently at $35979.0. In addition, Morgan Stanley & Co. LLC raised its holdings by 2759.0 to 90689.0 shares.
With over 0.46 million Electrameccanica Vehicles Corp (SOLO) shares trading Friday and a closing price of $0.36 on the day, the dollar volume was approximately $0.16 million. The shares have shown a negative half year performance of -45.74% and its price on 12/22/23 lost nearly -0.55%. Currently, there are 119.29M common shares owned by the public and among those 113.71M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SOLO have a consensus price objective of $0.50. The analysts have set the share’s price value over the next 12 months at a high of $0.50 and a low of $0.50. The average price target is 28.0% above its recent price level and an upside to the estimated low will see the stock gain 28.0% over that period. But an upside of 28.0% will see the stock hit the forecast high price target while median target price for the stock is $0.50.
Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 1,000,000 shares.
Fidelity Nasdaq Composite Index F owns 0.16 million shares of the company’s stock, all valued at over $62068.0.
However, the script later moved the day high at 0.3690, down -0.55%. The company’s stock has a 5-day price change of -1.68% and -43.18% over the past three months. SOLO shares are trading -40.04% year to date (YTD), with the 12-month market performance down to -55.49% lower. It has a 12-month low price of $0.35 and touched a high of $1.15 over the same period. SOLO has an average intraday trading volume of 490.47K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.63%, -11.64%, and -37.55% respectively.
Institutional ownership of Electrameccanica Vehicles Corp (NASDAQ: SOLO) shares accounts for 1.29% of the company’s 119.29M shares outstanding. Mutual fund holders own 1.11%, while other institutional holders and individual stakeholders account for 4.68% and 0.19% respectively.
It has a market capitalization of $43.18M and a beta (3y monthly) value of 2.90. The earnings-per-share (ttm) stands at -$0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.14% over the week and 5.51% over the month.
Analysts forecast that Electrameccanica Vehicles Corp (SOLO) will achieve an EPS of $YOLO for the current quarter, $24.93 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Emeren Group Ltd while analysts give the company a high EPS estimate of $Electrameccanica Vehicles Corp.. Comparatively, EPS for the current quarter was $Sonos, Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 71.17%, and 19.51% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Electrameccanica Vehicles Corp (SOLO) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 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. Stifel stated their Buy rating for the stock in a research note on December 17, 2020, with the firm’s price target at $9.
