Arcimoto (FUV) Sees Large Volume Increase

Arcimoto Inc (NASDAQ:FUV) shares saw strong trading volume on Wednesday . 827,363 shares traded hands during trading, an increase of 141% from the previous session’s volume of 343,185 shares.The stock last traded at $4.30 and had previously closed at $3.89.

Several brokerages have commented on FUV. ValuEngine raised Arcimoto from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Roth Capital lifted their target price on Arcimoto from $9.00 to $10.50 and gave the stock a “buy” rating in a report on Friday, February 15th. Finally, Chardan Capital set a $10.00 target price on Arcimoto and gave the stock a “buy” rating in a report on Tuesday.

The firm has a market capitalization of $56.52 million, a P/E ratio of -17.92 and a beta of -0.20. The company has a quick ratio of 3.18, a current ratio of 4.46 and a debt-to-equity ratio of 0.18.

A hedge fund recently raised its stake in Arcimoto stock. Vanguard Group Inc boosted its stake in shares of Arcimoto Inc (NASDAQ:FUV) by 85.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,315 shares of the company’s stock after acquiring an additional 16,285 shares during the quarter. Vanguard Group Inc owned 0.25% of Arcimoto worth $131,000 as of its most recent SEC filing. 0.91% of the stock is currently owned by institutional investors.

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About Arcimoto (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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