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Electrameccanica Vehicles (SOLO) Gets a Buy from Stifel Nicolaus

Stifel Nicolaus analyst J. Bruce Chan maintained a Buy rating on Electrameccanica Vehicles (SOLOResearch Report) yesterday and set a price target of $4.40. The company’s shares closed yesterday at $1.55.

According to TipRanks, Bruce Chan is a 4-star analyst with an average return of 5.8% and a 63.64% success rate. Bruce Chan covers the Industrial Goods sector, focusing on stocks such as FedEx, Forward Air, and TFI International.

Currently, the analyst consensus on Electrameccanica Vehicles is a Moderate Buy with an average price target of $4.40.

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Based on Electrameccanica Vehicles’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.55 million and a GAAP net loss of $20.3 million. In comparison, last year the company earned a revenue of $298.8 thousand and had a GAAP net loss of $11.45 million

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Electrameccanica Vehicles Corp. engages in developing and manufacturing single occupancy electric vehicles. It operates through two segments: Electric Vehicles and Custom Build Vehicles. The Electric Vehicles segment develops and manufactures electric vehicles for mass markets. The Custom Build Vehicles develops and manufactures segment high-end custom built vehicles. The company was founded by Jerry Kroll on February 16, 2015 and is headquartered in Vancouver, Canada.

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