Advisory Services Network LLC purchased a new stake in shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 29,100 shares of the company’s stock, valued at approximately $104,000. Advisory Services Network LLC owned approximately 0.08% of Electrameccanica Vehicles at the end of the most recent quarter.
Separately, 1492 Capital Management LLC purchased a new stake in Electrameccanica Vehicles during the fourth quarter worth $193,000. 2.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on SOLO. Benchmark assumed coverage on shares of Electrameccanica Vehicles in a research report on Wednesday, March 20th. They issued a “speculative buy” rating and a $6.00 target price for the company. Zacks Investment Research cut shares of Horiba from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. ThinkEquity assumed coverage on shares of Electrameccanica Vehicles in a research note on Thursday, March 28th. They set a “buy” rating and a $6.00 target price for the company. Finally, Roth Capital assumed coverage on shares of Electrameccanica Vehicles in a research note on Tuesday, July 9th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.25.
Electrameccanica Vehicles (NASDAQ:SOLO) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Electrameccanica Vehicles had a negative return on equity of 98.03% and a negative net margin of 3,920.55%. The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.56 million. On average, equities analysts predict that Electrameccanica Vehicles Corp will post -0.31 EPS for the current fiscal year.
Electrameccanica Vehicles 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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