Investors Buy Large Volume of Electrameccanica Vehicles Call Options

Electrameccanica Vehicles (NASDAQ:SOLO) saw some unusual options trading activity on Thursday. Traders bought 138,467 call options on the company. This is an increase of approximately 960% compared to the typical volume of 13,062 call options.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. ETRADE Capital Management LLC acquired a new position in shares of Electrameccanica Vehicles during the 2nd quarter worth $36,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Electrameccanica Vehicles in the 2nd quarter valued at about $39,000. Advisor Group Holdings Inc. grew its stake in Electrameccanica Vehicles by 71.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 45,600 shares of the company’s stock valued at $102,000 after acquiring an additional 19,000 shares during the last quarter. Raymond James & Associates lifted its holdings in Electrameccanica Vehicles by 221.8% in the 3rd quarter. Raymond James & Associates now owns 32,500 shares of the company’s stock valued at $81,000 after purchasing an additional 22,400 shares in the last quarter.

Finally, Royal Bank of Canada lifted its holdings in Electrameccanica Vehicles by 95.7% in the 1st quarter. Royal Bank of Canada now owns 61,350 shares of the company’s stock valued at $63,000 after purchasing an additional 30,000 shares in the last quarter. 2.01% of the stock is currently owned by institutional investors.

The company has a fifty day moving average price of $3.31 and a 200 day moving average price of $2.62. Electrameccanica Vehicles has a 12 month low of $0.89 and a 12 month high of $9.74. The company has a market cap of $749.90 million, a price-to-earnings ratio of -18.54 and a beta of 1.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 26.20 and a quick ratio of 25.62.

A number of research firms have issued reports on SOLO. ValuEngine raised shares of Electrameccanica Vehicles from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. Zacks Investment Research lowered shares of Electrameccanica Vehicles from a “hold” rating to a “sell” rating in a research note on Friday, October 30th. Finally, BidaskClub upgraded shares of Electrameccanica Vehicles from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock.

Electrameccanica Vehicles presently has a consensus rating of “Hold” and a consensus target price of $2.63.

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