Electrameccanica Vehicles Corp. (NASDAQ:SOLO): Can A Stock Be Up 21.86% YTD, And Still Be …

Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s traded shares stood at 8,221,192 during the last session, with the company’s beta value hitting 0. At the close of trading, the stock’s price was $6.85, to imply a decline of -3.39% or -$0.24 in intraday trading. The SOLO share’s 52-week high remains $13.6, putting it -98.54% down since that peak but still an impressive +87.01% since price per share fell to its 52-week low of $0.89. The company has a valuation of $539.16 Million, with an average of 16.05 Million shares in intraday trading volume over the past 10 days and average of 18.55 Million shares over the past 3 months.

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Analysts have given a consensus recommendation of Buy for Electrameccanica Vehicles Corp. (SOLO), translating to a mean rating of 0. Of 2 analyst(s) looking at the stock, none analyst(s) give SOLO a Sell rating. None of those analysts rate the stock as Overweight while no one advise Hold as 2 recommend it as a Buy. None analyst(s) have given it an Underweight rating.

After registering a -3.39% downside on the day, Electrameccanica Vehicles Corp. (SOLO) has traded red over the past five days. The stock hit a weekly high of $8.15- this Tuesday, Dec 08, jumping 15.95% in its intraday price action. The 5-day price performance for the stock is -1.86%, and 99.71% over 30 days. With these gigs, the year-to-date price performance is 218.6%. Short interest in Electrameccanica Vehicles Corp. (NASDAQ:SOLO) saw shorts transact 7.07 Million shares and set a 0.38 days time to cover.

Analysts on Wall Street suggest a consensus price target of $13.78, implying an increase of 101.17% to the stock’s current value. The extremes give us $11.52 and $16.04 for target low and target high price respectively. As such, SOLO is trading 134.16% off suggested target high and 68.18% from its likely low.

Electrameccanica Vehicles Corp. (SOLO) estimates and forecasts

An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated 0% for the past 5-year period. While 2020 is set for a -126.2% return in earnings, projections for the next 5 years are at 0% annually.

Electrameccanica Vehicles Corp. (NASDAQ:SOLO)’s Major holders

Electrameccanica Vehicles Corp. insiders hold 23.02% of total outstanding shares, with institutional holders owning 5.53% of the shares at 7.18% float percentage. In total, 39 institutions holds shares in the company, led by Invesco Ltd. As of Sep 29 this year, the company held over 1.36 Million shares (or 4.2% of shares), all amounting to roughly $3.39 Million.

The next major institution holding the largest number of shares is Susquehanna International Group, LLP with 957.79 Thousand shares, or about 2.96% of shares outstanding. As of the market price on Sep 29, these shares were worth $2.38 Million.

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We also have Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Fidelity NASDAQ Composite Index Fund as the top two Mutual Funds with the largest holdings of the Electrameccanica Vehicles Corp. (SOLO) shares. Going by data provided on Oct 30, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF holds roughly 1,490,103 shares. This is just over 4.6% of the total shares, with a market valuation of $4.14 Million. Data from the same date shows that the other fund manager holds a little less at 35.75 Thousand, or 0.11% of the shares, all valued at about $89.01 Thousand.

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