Arcimoto Inc (NASDAQ:FUV) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 325,400 shares, a growth of 68.7% from the September 30th total of 192,900 shares. Based on an average trading volume of 77,300 shares, the short-interest ratio is presently 4.2 days. Currently, 3.8% of the company’s shares are short sold.
An institutional investor recently raised its position in Arcimoto stock. BlackRock Inc. boosted its position in shares of Arcimoto Inc (NASDAQ:FUV) by 63.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,438 shares of the company’s stock after purchasing an additional 10,219 shares during the quarter. BlackRock Inc. owned about 0.16% of Arcimoto worth $85,000 as of its most recent filing with the Securities & Exchange Commission. 1.58% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Arcimoto in a research note on Friday. ValuEngine raised Arcimoto from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Chardan Capital set a $10.00 price target on Arcimoto and gave the stock a “buy” rating in a research note on Monday, September 30th.
Arcimoto (NASDAQ:FUV) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.06). The business had revenue of $0.01 million for the quarter. Arcimoto had a negative return on equity of 176.81% and a negative net margin of 65,833.33%. As a group, sell-side analysts predict that Arcimoto will post -0.87 earnings per share for the current fiscal year.
Arcimoto Company Profile
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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