Electrameccanica Vehicles (NASDAQ:SOLO) Downgraded by Zacks Investment Research

Electrameccanica Vehicles (NASDAQ:SOLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, 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. “

A number of other research analysts have also weighed in on the stock. ValuEngine lowered shares of Electrameccanica Vehicles from a “hold” rating to a “sell” rating in a research note on Saturday, December 7th. Aegis assumed coverage on shares of Electrameccanica Vehicles in a report on Wednesday, September 18th. They issued a “buy” rating and a $5.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $5.19.

Shares of SOLO opened at $2.19 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.45 and a current ratio of 9.81. Electrameccanica Vehicles has a twelve month low of $1.18 and a twelve month high of $6.74. The firm’s 50 day moving average price is $2.11 and its two-hundred day moving average price is $2.23. The firm has a market cap of $82.25 million, a P/E ratio of -5.62 and a beta of 1.61.

Electrameccanica Vehicles (NASDAQ:SOLO) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. Electrameccanica Vehicles had a negative net margin of 4,112.97% and a negative return on equity of 70.32%. The firm had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.60 million. On average, sell-side analysts anticipate that Electrameccanica Vehicles will post -0.62 earnings per share for the current fiscal year.

Electrameccanica Vehicles Company Profile

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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