-$0.14 Earnings Per Share Expected for Electrameccanica Vehicles Corp. (NASDAQ:SOLO) This Quarter

Brokerages expect Electrameccanica Vehicles Corp. (NASDAQ:SOLOGet Rating) to post earnings of ($0.14) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Electrameccanica Vehicles’ earnings. Electrameccanica Vehicles posted earnings per share of ($0.08) during the same quarter last year, which would suggest a negative year over year growth rate of 75%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Electrameccanica Vehicles will report full year earnings of ($0.54) per share for the current fiscal year, with EPS estimates ranging from ($0.55) to ($0.52). For the next fiscal year, analysts expect that the company will report earnings of ($0.35) per share. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Electrameccanica Vehicles.

Electrameccanica Vehicles (NASDAQ:SOLOGet Rating) last posted its quarterly earnings results on Tuesday, March 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter. Electrameccanica Vehicles had a negative return on equity of 19.57% and a negative net margin of 1,966.97%. The business had revenue of $1.51 million during the quarter, compared to analyst estimates of $1.00 million.

Separately, Zacks Investment Research upgraded shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Saturday, April 9th.

A number of institutional investors have recently made changes to their positions in SOLO. Virtu Financial LLC boosted its position in Electrameccanica Vehicles by 129.2% during the 4th quarter. Virtu Financial LLC now owns 105,161 shares of the company’s stock worth $240,000 after acquiring an additional 59,279 shares during the period. Deutsche Bank AG purchased a new position in Electrameccanica Vehicles during the fourth quarter valued at approximately $857,000. Marshall Wace LLP increased its stake in Electrameccanica Vehicles by 62.7% in the 4th quarter. Marshall Wace LLP now owns 37,937 shares of the company’s stock valued at $86,000 after buying an additional 14,627 shares during the period. Millennium Management LLC lifted its position in Electrameccanica Vehicles by 150.8% in the 4th quarter. Millennium Management LLC now owns 2,082,751 shares of the company’s stock worth $4,749,000 after buying an additional 1,252,210 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Electrameccanica Vehicles during the 4th quarter valued at $412,000. 20.08% of the stock is owned by hedge funds and other institutional investors.

Shares of SOLO opened at $1.95 on Wednesday. The business’s 50-day moving average price is $2.06 and its 200 day moving average price is $2.57. The stock has a market capitalization of $231.29 million, a P/E ratio of -5.42 and a beta of 2.50. Electrameccanica Vehicles has a 1-year low of $1.64 and a 1-year high of $4.95.

About Electrameccanica Vehicles (Get Rating)

Electrameccanica Vehicles Corp., a development-stage company, develops, manufactures, and sells electric vehicles in Canada. The company operates in two segments, Electric Vehicles and Custom Build Vehicles. Its flagship product is the SOLO, a single seat vehicle. The company is also developing Tofino, an all-electric two-seater roadster.

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