$1.19 Million in Sales Expected for Arcimoto Inc (NASDAQ:FUV) This Quarter

Brokerages expect that Arcimoto Inc (NASDAQ:FUV) will announce sales of $1.19 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Arcimoto’s earnings. The lowest sales estimate is $870,000.00 and the highest is $1.50 million. The business is expected to announce its next earnings results on Friday, April 3rd.

According to Zacks, analysts expect that Arcimoto will report full-year sales of $2.04 million for the current financial year, with estimates ranging from $910,000.00 to $3.20 million. For the next financial year, analysts expect that the firm will report sales of $31.78 million, with estimates ranging from $14.54 million to $40.80 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Arcimoto.

Arcimoto (NASDAQ:FUV) last posted its earnings results on Thursday, November 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.01. The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.28 million. Arcimoto had a negative net margin of 30,418.75% and a negative return on equity of 242.04%.

A number of research firms have recently commented on FUV. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Arcimoto in a research report on Friday, November 15th. Chardan Capital set a $10.00 price target on shares of Arcimoto and gave the company a “buy” rating in a research report on Monday, September 30th.

An institutional investor recently bought a new position in Arcimoto stock. JPMorgan Chase & Co. bought a new position in shares of Arcimoto Inc (NASDAQ:FUV) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,318 shares of the company’s stock, valued at approximately $57,000. JPMorgan Chase & Co. owned 0.11% of Arcimoto at the end of the most recent quarter. Hedge funds and other institutional investors own 1.23% of the company’s stock.

NASDAQ FUV traded down $0.02 during trading on Wednesday, reaching $1.70. The company’s stock had a trading volume of 333,987 shares, compared to its average volume of 177,054. The company has a current ratio of 0.79, a quick ratio of 0.31 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $33.43 million, a PE ratio of -2.43 and a beta of 0.03. The business has a 50-day moving average price of $2.01 and a 200-day moving average price of $2.81. Arcimoto has a 1-year low of $1.55 and a 1-year high of $7.35.

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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