Electrameccanica Vehicles Corp (NASDAQ:SOLO) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 752,400 shares, a drop of 5.3% from the May 15th total of 794,400 shares. Based on an average daily volume of 400,000 shares, the days-to-cover ratio is presently 1.9 days. Currently, 5.3% of the shares of the stock are sold short.
Shares of NASDAQ SOLO traded up $0.14 during trading hours on Friday, reaching $2.88. 521,936 shares of the stock traded hands, compared to its average volume of 718,501. The business’s 50-day moving average is $2.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 17.01 and a quick ratio of 16.61. Electrameccanica Vehicles has a 52-week low of $0.90 and a 52-week high of $7.48. The stock has a market cap of $106.00 million, a P/E ratio of -7.38 and a beta of 1.58.
Electrameccanica Vehicles (NASDAQ:SOLO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.56 million. Electrameccanica Vehicles had a negative return on equity of 98.03% and a negative net margin of 3,920.55%. Analysts predict that Electrameccanica Vehicles will post -0.28 earnings per share for the current year.
A hedge fund recently bought a new stake in Electrameccanica Vehicles stock. Advisory Services Network LLC purchased a new stake in shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing. Institutional investors and hedge funds own 2.98% of the company’s stock.
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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