Zacks Investment Research lowered shares of Electrameccanica Vehicles (NASDAQ:SOLO) from a hold rating to a sell rating in a report released on Wednesday, reports.

According to Zacks, “Electrameccanica Vehicles Corp. is engaged in the planning, development and manufacturing of single person electric vehicles. Electrameccanica Vehicles Corp. is headquartered in Vancouver, Canada. “

A number of other equities analysts have also recently commented on SOLO. ValuEngine raised shares of Electrameccanica Vehicles from a hold rating to a buy rating in a research note on Friday, August 30th. Roth Capital initiated coverage on shares of Electrameccanica Vehicles in a research note on Tuesday, July 9th. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $5.19.

Shares of NASDAQ:SOLO opened at $2.47 on Wednesday. The company has a 50 day moving average of $2.41 and a 200 day moving average of $2.90. Electrameccanica Vehicles has a 12 month low of $0.90 and a 12 month high of $7.48. The company has a quick ratio of 16.24, a current ratio of 16.81 and a debt-to-equity ratio of 0.04.

Electrameccanica Vehicles (NASDAQ:SOLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.41 million. Electrameccanica Vehicles had a negative net margin of 3,769.20% and a negative return on equity of 71.71%. On average, research analysts expect that Electrameccanica Vehicles will post -0.59 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Electrameccanica Vehicles stock. Advisory Services Network LLC purchased a new position in Electrameccanica Vehicles Corp (NASDAQ:SOLO) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period. 1.71% of the stock is owned by hedge funds and other institutional investors.

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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