Arcimoto (NASDAQ:FUV) Trading 7.8% Higher

Arcimoto Inc (NASDAQ:FUV)’s share price traded up 7.8% during mid-day trading on Thursday . The stock traded as high as $1.70 and last traded at $1.66, 242,212 shares changed hands during trading. An increase of 37% from the average session volume of 177,101 shares. The stock had previously closed at $1.54.

Several research analysts have issued reports on the company. Chardan Capital set a $10.00 price objective on Arcimoto and gave the stock a “buy” rating in a research note on Monday, September 30th. Dougherty & Co assumed coverage on Arcimoto in a research note on Thursday. They set a “buy” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Arcimoto in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $8.00.

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.79 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $1.87 and a 200-day simple moving average of $2.71. The stock has a market capitalization of $31.68 million, a price-to-earnings ratio of -2.37 and a beta of 0.02.

Arcimoto (NASDAQ:FUV) last released its quarterly earnings data on Thursday, November 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Arcimoto had a negative return on equity of 242.04% and a negative net margin of 30,418.75%. The firm had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.28 million. On average, sell-side analysts forecast that Arcimoto Inc will post -0.82 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Arcimoto stock. JPMorgan Chase & Co. acquired a new position in shares of Arcimoto Inc (NASDAQ:FUV) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,318 shares of the company’s stock, valued at approximately $57,000. JPMorgan Chase & Co. owned approximately 0.11% of Arcimoto at the end of the most recent reporting period. 1.23% of the stock is owned by institutional investors and hedge funds.

Arcimoto Company Profile (NASDAQ:FUV)

Arcimoto, Inc designs, develops, manufactures, and sells three-wheeled electric vehicles. The company was formerly known as WTP Inc and changed its name to Arcimoto, Inc in December 2011. Arcimoto, Inc was founded in 2007 and is headquartered in Eugene, Oregon.

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