U.S. Markets closed
  • S&P 500

    4,185.47
    +15.05 (+0.36%)
     
  • Dow 30

    34,200.67
    +164.68 (+0.48%)
     
  • Nasdaq

    14,052.34
    +13.58 (+0.10%)
     
  • Russell 2000

    2,262.67
    +5.60 (+0.25%)
     
  • Crude Oil

    63.07
    -0.39 (-0.61%)
     
  • Gold

    1,777.30
    +10.50 (+0.59%)
     
  • Silver

    26.04
    +0.08 (+0.29%)
     
  • EUR/USD

    1.1980
    +0.0004 (+0.0359%)
     
  • 10-Yr Bond

    1.5730
    +0.0430 (+2.81%)
     
  • Vix

    16.25
    -0.32 (-1.93%)
     
  • GBP/USD

    1.3840
    +0.0056 (+0.4069%)
     
  • USD/JPY

    108.7830
    +0.0670 (+0.0616%)
     
  • BTC-USD

    54,641.25
    -7,760.05 (-12.44%)
     
  • CMC Crypto 200

    1,398.97
    +7.26 (+0.52%)
     
  • FTSE 100

    7,019.53
    +36.03 (+0.52%)
     
  • Nikkei 225

    29,683.37
    +40.68 (+0.14%)
     

ElectraMeccanica Vehicles Corp. (SOLO) Stock Sinks As Market Gains: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

ElectraMeccanica Vehicles Corp. (SOLO) closed at $5.74 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's daily gain of 0.6%. At the same time, the Dow added 1.46%, and the tech-heavy Nasdaq lost 0.04%.

Coming into today, shares of the company had lost 34.66% in the past month. In that same time, the Auto-Tires-Trucks sector lost 12.58%, while the S&P 500 lost 0.8%.

SOLO will be looking to display strength as it nears its next earnings release. On that day, SOLO is projected to report earnings of -$0.10 per share, which would represent 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 might also notice recent changes to analyst estimates for SOLO. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SOLO is currently a Zacks Rank #3 (Hold).

The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
ElectraMeccanica Vehicles Corp. (SOLO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research