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ElectraMeccanica Vehicles Corp. (SOLO) closed the most recent trading day at $6.17, moving -1.75% from the previous trading session. This move lagged the S&P 500's daily loss of 0.48%. Elsewhere, the Dow lost 1.5%, while the tech-heavy Nasdaq added 0.56%.
Heading into today, shares of the company had lost 20% over the past month, lagging the Auto-Tires-Trucks sector's loss of 12.64% and the S&P 500's loss of 0.53% in that time.
SOLO will be looking to display strength as it nears its next earnings release. In that report, analysts expect SOLO to post earnings of -$0.10 per share. This would mark year-over-year growth of 41.18%. Meanwhile, our latest consensus estimate is calling for revenue of $0.16 million, down 33.33% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for SOLO. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SOLO is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ElectraMeccanica Vehicles Corp. (SOLO) : Free Stock Analysis Report
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