Electrameccanica Vehicles (NASDAQ:SOLO) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Electrameccanica Vehicles (NASDAQ:SOLO) from a hold rating to a buy rating in a research report released on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research upgraded Electrameccanica Vehicles from a sell rating to a hold rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $5.19.

Electrameccanica Vehicles stock traded down $0.03 during mid-day trading on Thursday, reaching $2.07. 236,125 shares of the company were exchanged, compared to its average volume of 421,272. Electrameccanica Vehicles has a 12 month low of $1.60 and a 12 month high of $5.15. The company has a fifty day simple moving average of $2.19 and a 200-day simple moving average of $2.16. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.81 and a quick ratio of 9.45. The firm has a market cap of $76.85 million, a PE ratio of -3.70 and a beta of 1.62.

An institutional investor recently raised its position in Electrameccanica Vehicles stock. Advisory Services Network LLC increased its holdings in Electrameccanica Vehicles Corp (NASDAQ:SOLO) by 46.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,925 shares of the company’s stock after acquiring an additional 6,325 shares during the period. Advisory Services Network LLC owned about 0.05% of Electrameccanica Vehicles worth $43,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.14% of the company’s stock.

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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