Electrameccanica Vehicles Corp (NASDAQ:SOLO) Expected to Post Earnings of -$0.07 Per Share

Equities analysts expect Electrameccanica Vehicles Corp (NASDAQ:SOLO) to announce ($0.07) earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Electrameccanica Vehicles’ earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.10). Electrameccanica Vehicles reported earnings per share of ($0.15) in the same quarter last year, which would indicate a positive year-over-year growth rate of 53.3%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 15th.

According to Zacks, analysts expect that Electrameccanica Vehicles will report full-year earnings of ($0.29) per share for the current fiscal year, with EPS estimates ranging from ($0.39) to ($0.18). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.47) per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Electrameccanica Vehicles.

Electrameccanica Vehicles (NASDAQ:SOLO) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.08). Electrameccanica Vehicles had a negative net margin of 3,920.55% and a negative return on equity of 98.03%. The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.56 million.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. 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 price target for the company. Finally, Benchmark assumed coverage on shares of Electrameccanica Vehicles in a research note on Wednesday, March 20th. They set a “speculative buy” rating and a $6.00 price target for the company.

A number of large investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new stake in Electrameccanica Vehicles in the first quarter valued at approximately $104,000. Sabby Management LLC increased its position in shares of Electrameccanica Vehicles by 163.6% during the first quarter. Sabby Management LLC now owns 527,200 shares of the company’s stock worth $1,877,000 after acquiring an additional 327,200 shares in the last quarter. Finally, 1492 Capital Management LLC bought a new stake in shares of Electrameccanica Vehicles during the fourth quarter worth $193,000. 2.98% of the stock is owned by hedge funds and other institutional investors.

Shares of SOLO stock traded down $0.10 during trading hours on Friday, reaching $2.54. 58,446 shares of the company were exchanged, compared to its average volume of 163,958. Electrameccanica Vehicles has a fifty-two week low of $0.90 and a fifty-two week high of $7.48. The firm has a market capitalization of $95.34 million, a price-to-earnings ratio of -6.51 and a beta of 1.85. The company has a current ratio of 17.01, a quick ratio of 16.61 and a debt-to-equity ratio of 0.06.

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.

Further Reading: What is a Leveraged Buyout (LBO)?

Get a free copy of the Zacks research report on Electrameccanica Vehicles (SOLO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Electrameccanica Vehicles Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electrameccanica Vehicles and related companies with MarketBeat.com's FREE daily email newsletter.