Electrameccanica Vehicles Corp. (NASDAQ:SOLO) closed Monday at $1.01 per share, up from $0.99 a day earlier. While Electrameccanica Vehicles Corp. has overperformed by 2.02%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SOLO fell by -49.75%, with highs and lows ranging from $2.44 to $0.57, whereas the simple moving average fell by -24.89% in the last 200 days.
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 1207.60%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Electrameccanica Vehicles Corp.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -35.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 25.30, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and SOLO is recording an average volume of 1.01M. On a monthly basis, the volatility of the stock is set at 10.76%, whereas on a weekly basis, it is put at 9.68%, with a loss of -3.81% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.20, showing growth from the present price of $1.01, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 9.55%. 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 9.00% 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 increased by 5.51% in the first quarter. The company now owns 4,150,056 shares of the stock, with a value of $2.51 million, following the purchase of 216,715 additional shares during the last quarter. Robert W. Baird & Co., Inc. made another increased to its shares in SOLO during the first quarter, upping its stake by 48.14%. During the last quarter, the company dropped down 412,198 additional shares for a total stake of worth $0.77 million, bringing number of shares owned by the company to 1,268,448.
During the first quarter, SSgA Funds Management, Inc. subtracted a -2,918 position in SOLO. GSA Capital Partners LLP sold an additional -0.12 million shares in the last quarter, decreasing its holdings by -21.50%, now holding 0.45 million shares worth $0.27 million. SOLO shares are owned by institutional investors to the tune of 9.00% at present.