Electrameccanica Vehicles Corp (NASDAQ:SOLO) dropped 0.6% on Friday . The stock traded as low as $3.33 and last traded at $3.35. Approximately 6,226 shares changed hands during trading, a decline of 100% from the average daily volume of 2,961,406 shares. The stock had previously closed at $3.37.
SOLO has been the subject of several analyst reports. Zacks Investment Research raised shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research report on Saturday, January 5th. ValuEngine downgraded shares of Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd.
An institutional investor recently bought a new position in Electrameccanica Vehicles stock. 1492 Capital Management LLC purchased a new position in shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 180,842 shares of the company’s stock, valued at approximately $193,000. 1492 Capital Management LLC owned about 0.56% of Electrameccanica Vehicles at the end of the most recent reporting period. 3.81% of the stock is owned by institutional investors.
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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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