Arcimoto Inc (NASDAQ:FUV) Short Interest Up 36.8% in October

Arcimoto Inc (NASDAQ:FUV) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 192,900 shares, a growth of 36.8% from the September 30th total of 141,000 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average trading volume of 63,000 shares, the days-to-cover ratio is presently 3.1 days.

A hedge fund recently raised its stake in Arcimoto stock. BlackRock Inc. grew its position in shares of Arcimoto Inc (NASDAQ:FUV) by 63.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,438 shares of the company’s stock after buying an additional 10,219 shares during the quarter. BlackRock Inc. owned approximately 0.16% of Arcimoto worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 1.58% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ FUV traded down $0.07 during trading on Tuesday, reaching $2.00. 58,209 shares of the company’s stock were exchanged, compared to its average volume of 117,800. Arcimoto has a fifty-two week low of $1.55 and a fifty-two week high of $7.35. The firm has a market capitalization of $40.23 million, a PE ratio of -2.86 and a beta of 0.06. The company has a current ratio of 1.22, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $2.38 and its 200-day simple moving average is $2.97.

Arcimoto (NASDAQ:FUV) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.23) EPS for the quarter, missing the Zacks’ 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 business had revenue of $0.01 million for the quarter. Equities analysts forecast that Arcimoto will post -0.81 EPS for the current fiscal year.

FUV has been the subject of a number of research reports. HC Wainwright initiated coverage on Arcimoto in a research report on Friday, September 6th. They set a “buy” rating and a $7.00 price objective for the company. ValuEngine upgraded Arcimoto from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Chardan Capital set a $10.00 price objective on Arcimoto and gave the stock a “buy” rating in a research report on Monday, September 30th.

About Arcimoto

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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