Zacks Investment Research Downgrades Electrameccanica Vehicles (NASDAQ:SOLO) to Sell

Zacks Investment Research lowered shares of Electrameccanica Vehicles (NASDAQ:SOLO) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “Electrameccanica Vehicles Corp. is engaged in the planning, development and manufacturing of single person electric vehicles. Electrameccanica Vehicles Corp. is headquartered in Vancouver, Canada. “

Several other research analysts have also issued reports on the stock. Aegis started coverage on shares of Electrameccanica Vehicles in a research note on Wednesday, September 18th. They issued a buy rating and a $5.00 price target for the company. ValuEngine lowered shares of Electrameccanica Vehicles from a hold rating to a sell rating in a research note on Saturday, December 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Electrameccanica Vehicles presently has an average rating of Hold and a consensus price target of $5.19.

Shares of Electrameccanica Vehicles stock traded down $0.11 during trading on Thursday, hitting $2.30. The company’s stock had a trading volume of 454,701 shares, compared to its average volume of 385,408. The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.45 and a current ratio of 9.81. The company has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $2.23. The company has a market capitalization of $89.29 million, a PE ratio of -5.90 and a beta of 1.61. Electrameccanica Vehicles has a 52 week low of $1.18 and a 52 week high of $6.74.

Electrameccanica Vehicles (NASDAQ:SOLO) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.01. The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.60 million. Electrameccanica Vehicles had a negative net margin of 4,112.97% and a negative return on equity of 70.32%. As a group, analysts predict that Electrameccanica Vehicles will post -0.62 EPS for the current year.

About Electrameccanica Vehicles

Electrameccanica Vehicles Corp., a development-stage company, plans, develops, manufactures, and sells single person electric vehicles under the SOLO name for mass markets. It operates in two segments, Electric Vehicles and Custom Build Vehicles. The company also develops and manufactures high end custom built vehicles.

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