Electrameccanica Vehicles Corp. (NASDAQ:SOLO) marked $1.54 per share on Tuesday, up from a previous closing price of $1.46. While Electrameccanica Vehicles Corp. has overperformed by 5.48%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SOLO fell by -56.86%, with highs and lows ranging from $4.10 to $1.22, whereas the simple moving average fell by -28.99% in the last 200 days.
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On December 17, 2020, Stifel started tracking Electrameccanica Vehicles Corp. (NASDAQ: SOLO) recommending Buy. A report published by ROTH Capital on July 09, 2019, Initiated its previous ‘Buy’ rating for SOLO. The Benchmark Company also rated SOLO shares as ‘Speculative Buy’, setting a target price of $6 on the company’s shares in an initiating report dated March 20, 2019.
Analysis of Electrameccanica Vehicles Corp. (SOLO)
Further, the quarter-over-quarter increase in sales is 400.00%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Electrameccanica Vehicles Corp.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -24.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 34.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.36M can be a very valuable indicator of volatility for SOLO stock. On a monthly basis, the volatility of the stock is set at 6.63%, whereas on a weekly basis, it is put at 6.38%, with a gain of 12.41% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.50, showing growth from the present price of $1.54, which can serve as yet another indication of whether SOLO is worth investing in or should be passed over.
How Do You Analyze Electrameccanica Vehicles Corp. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 10.69%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 12.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SOLO shares?
The recent increase in stakes in SOLO appears to be a result of several institutional investors and hedge funds increasing their positions. Invesco Capital Management LLC’s position in SOLO has decreased by -5.17% in the first quarter. The company now owns 7,540,114 shares of the stock, with a value of $10.18 million, following the sale of -410,749 additional shares during the last quarter. SSgA Funds Management, Inc. made another decreased to its shares in SOLO during the first quarter, downing its stake by -8.48%. During the last quarter, the company picked up -123,825 additional shares for a total stake of worth $1.81 million, bringing number of shares owned by the company to 1,337,154.
During the first quarter, Robert W. Baird & Co., Inc. added a 257,562 position in SOLO. Rafferty Asset Management LLC sold an additional 94281.0 shares in the last quarter, decreasing its holdings by -11.64%, now holding 0.72 million shares worth $0.97 million. At the end of the first quarter, Morgan Stanley & Co. LLC decreased its SOLO holdings by -32.63% and now holds 0.58 million SOLO shares valued at $0.79 million with the lessened -0.28 million shares during the period. SOLO shares are owned by institutional investors to the tune of 12.90% at present.