Are Electrameccanica Vehicles Corp. (NASDAQ:SOLO) shares too expensive at this price?

In the latest session, Electrameccanica Vehicles Corp. (NASDAQ: SOLO) closed at $1.01 up 2.02% from its previous closing price of $0.99. In other words, the price has increased by $+0.0200 from its previous closing price. On the day, 1068229 shares were traded. SOLO stock price reached its highest trading level at $1.0400 during the session, while it also had its lowest trading level at $0.9645.

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Ratios:

For a deeper understanding of Electrameccanica Vehicles Corp.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 25.30 and its Current Ratio is at 26.60. In the meantime, Its Debt-to-Equity ratio is 0.10 whereas as Long-Term Debt/Eq ratio is at 0.09.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Stifel on December 17, 2020, initiated with a Buy rating and assigned the stock a target price of $9.

On March 20, 2019, The Benchmark Company started tracking the stock assigning a Speculative Buy rating and target price of $6.The Benchmark Company initiated its Speculative Buy rating on March 20, 2019, with a $6 target price.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 21.76 while its Price-to-Book (P/B) ratio in mrq is 0.64.

Stock Price History:

Over the past 52 weeks, SOLO has reached a high of $2.44, while it has fallen to a 52-week low of $0.57. The 50-Day Moving Average of the stock is 0.9706, while the 200-Day Moving Average is calculated to be 1.3447.

Shares Statistics:

For the past three months, SOLO has traded an average of 1.01M shares per day and 1.39M over the past ten days. A total of 118.85M shares are outstanding, with a floating share count of 107.52M. Insiders hold about 9.55% of the company’s shares, while institutions hold 9.00% stake in the company. Shares short for SOLO as of Oct 13, 2022 were 13.29M with a Short Ratio of 11.81M, compared to 14.03M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 11.18% and a Short% of Float of 12.23%.

Earnings Estimates

There are 2 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.12 for the current quarter, with a high estimate of -$0.1 and a low estimate of -$0.13, while EPS last year was -$0.11. The consensus estimate for the next quarter is -$0.11, with high estimates of -$0.1 and low estimates of -$0.13.

Analysts are recommending an EPS of between -$0.44 and -$0.44 for the fiscal current year, implying an average EPS of -$0.44. EPS for the following year is -$0.37, with 2 analysts recommending between -$0.31 and -$0.42.

Revenue Estimates

A total of 2 analysts have provided revenue estimates for SOLO’s current fiscal year. The highest revenue estimate was $6.34M, while the lowest revenue estimate was $6.14M, resulting in an average revenue estimate of $6.24M. In the same quarter a year ago, actual revenue was $2.05M, up 203.80% from the average estimate. Based on 1 analysts’ estimates, the company’s revenue will be $59.24M in the next fiscal year. The high estimate is $59.24M and the low estimate is $59.24M. The average revenue growth estimate for next year is up 849.40% from the average revenue estimate for this year.