Arcimoto (NASDAQ:FUV) Shares Gap Up to $5.45

Arcimoto Inc (NASDAQ:FUV) gapped up prior to trading on Thursday . The stock had previously closed at $5.27, but opened at $5.45. Arcimoto shares last traded at $5.45, with a volume of 990,600 shares traded.

Several analysts have weighed in on the company. Zacks Investment Research downgraded Arcimoto from a “buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Roth Capital lifted their price objective on shares of Arcimoto from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, June 15th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Arcimoto in a report on Wednesday, April 15th. Finally, Aegis started coverage on shares of Arcimoto in a research note on Thursday, June 25th. They set a “buy” rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Arcimoto presently has an average rating of “Buy” and an average target price of $6.40.

The business’s 50 day simple moving average is $3.24 and its 200 day simple moving average is $2.03. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.46 and a current ratio of 1.10.

Arcimoto (NASDAQ:FUV) last posted its quarterly earnings data on Thursday, June 11th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). The firm had revenue of $0.62 million for the quarter, compared to analysts’ expectations of $1.01 million. Arcimoto had a negative net margin of 990.51% and a negative return on equity of 335.19%. As a group, equities research analysts predict that Arcimoto Inc will post -0.49 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Greatmark Investment Partners Inc. purchased a new stake in shares of Arcimoto during the 1st quarter worth about $34,000. Valeo Financial Advisors LLC bought a new stake in shares of Arcimoto in the 1st quarter valued at approximately $39,000. Finally, BlackRock Inc. increased its holdings in Arcimoto by 26.5% in the first quarter. BlackRock Inc. now owns 44,111 shares of the company’s stock worth $50,000 after buying an additional 9,234 shares during the last quarter. Hedge funds and other institutional investors own 1.46% of the company’s stock.

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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