Is ElectraMeccanica Vehicles (SOLO) Outperforming Other Auto-Tires-Trucks Stocks This Year?

Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Has ElectraMeccanica Vehicles (SOLO) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.

ElectraMeccanica Vehicles is a member of the Auto-Tires-Trucks sector. This group includes 90 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SOLO is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for SOLO’s full-year earnings has moved 25% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that SOLO has returned about 46.98% since the start of the calendar year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of 14.16% on a year-to-date basis. This means that ElectraMeccanica Vehicles is outperforming the sector as a whole this year.

Breaking things down more, SOLO is a member of the Automotive – Foreign industry, which includes 20 individual companies and currently sits at #124 in the Zacks Industry Rank. Stocks in this group have lost about 15.73% so far this year, so SOLO is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to SOLO as it looks to continue its solid performance.

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ElectraMeccanica Vehicles Corp. (SOLO) : Free Stock Analysis Report
 
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