Electrameccanica Vehicles Corp. (SOLO) kicked off at the price of $1.01: Venture capitalists have an exciting new opportunity

Electrameccanica Vehicles Corp. (NASDAQ: SOLO) on January 24, 2023, started off the session at the price of $1.00. During the day, the shares moved up to $1.05 and dropped to $1.00 before settling in for the closing price of $1.01. Within the past 52 weeks, SOLO’s price has moved between $0.57 and $2.44.

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The company achieved an average annual earnings per share of 65.80%. With a float of $107.52 million, this company’s outstanding shares have now reached $118.85 million.

The extent of productivity of a business whose workforce counts for 216 workers is very important to gauge. In terms of profitability, gross margin is -308.71, operating margin of -2893.97, and the pretax margin is -1967.18.

Electrameccanica Vehicles Corp. (SOLO) Insider Updates

Observing investor behavior towards Auto Manufacturers industry stocks is more important than anything else. The insider ownership of Electrameccanica Vehicles Corp. is 9.55%, while institutional ownership is 9.00%.

Electrameccanica Vehicles Corp. (SOLO) Performance Highlights and Predictions

As on 6/29/2022, Multinational firm has announced its last quarter scores, in which it reported -$0.12 earnings per share (EPS) for the period falling under the consensus outlook (set at -$0.1) by -$0.02. This company achieved a net margin of -1967.22 while generating a return on equity of -22.59. Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.11 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 65.80% per share during the next fiscal year.

Electrameccanica Vehicles Corp. (NASDAQ: SOLO) Trading Performance Indicators

Electrameccanica Vehicles Corp. (SOLO) is currently performing well based on its current performance indicators. A quick ratio of 25.30 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 21.76.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -0.65, a number that is poised to hit -0.15 in the next quarter and is forecasted to reach -0.49 in one year’s time.

Technical Analysis of Electrameccanica Vehicles Corp. (SOLO)

The latest stats from [Electrameccanica Vehicles Corp., SOLO] show that its last 5-days average volume of 0.95 million was inferior to 1.21 million than last year’s volume. As of the previous 9 days, the stock’s Stochastic %D was 76.93%. Additionally, its Average True Range was 0.08.

During the past 100 days, Electrameccanica Vehicles Corp.’s (SOLO) raw stochastic average was set at 45.75%, which indicates a significant decrease from 84.44% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 115.75% in the past 14 days, which was higher than the 86.15% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $0.9655, while its 200-day Moving Average is $1.3338. Now, the first resistance to watch is $1.0400. This is followed by the second major resistance level at $1.0700. The third major resistance level sits at $1.0900. If the price goes on to break the first support level at $0.9900, it is likely to go to the next support level at $0.9700. Assuming the price breaks the second support level, the third support level stands at $0.9400.

Electrameccanica Vehicles Corp. (NASDAQ: SOLO) Key Stats

Market capitalization of the company is 119.66 million based on 118,611K outstanding shares. Right now, sales total 2,100 K and income totals -41,330 K. The company made 1,440 K in profit during its latest quarter, and -21,540 K in sales during its previous quarter.


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