Arcimoto (NASDAQ:FUV) Stock Price Down 16.7%

Arcimoto Inc (NASDAQ:FUV) dropped 16.7% on Friday . The stock traded as low as $2.19 and last traded at $2.35, approximately 517,900 shares changed hands during mid-day trading. An increase of 242% from the average daily volume of 151,352 shares. The stock had previously closed at $2.82.

FUV has been the subject of several recent analyst reports. HC Wainwright initiated coverage on Arcimoto in a report on Friday, September 6th. They issued a “buy” rating and a $7.00 price target for the company. ValuEngine raised Arcimoto from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Chardan Capital set a $10.00 price target on Arcimoto and gave the stock a “buy” rating in a report on Monday. Finally, Roth Capital set a $7.00 price target on Arcimoto and gave the stock a “buy” rating in a report on Wednesday, July 3rd.

The stock has a market capitalization of $56.34 million, a PE ratio of -3.36 and a beta of 0.18. The company has a quick ratio of 0.54, a current ratio of 1.22 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.40.

Arcimoto (NASDAQ:FUV) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.06). Arcimoto had a negative return on equity of 176.81% and a negative net margin of 65,833.33%. The firm had revenue of $0.01 million during the quarter. Equities analysts expect that Arcimoto Inc will post -0.81 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Arcimoto stock. JPMorgan Chase & Co. bought a new stake in Arcimoto Inc (NASDAQ:FUV) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,318 shares of the company’s stock, valued at approximately $57,000. JPMorgan Chase & Co. owned 0.11% of Arcimoto as of its most recent SEC filing. 1.58% of the stock is owned by institutional investors.

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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