Arcimoto Inc (NASDAQ:FUV) Given $7.50 Consensus Target Price by Analysts

Shares of Arcimoto Inc (NASDAQ:FUV) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus target price of $7.50 for the company and are predicting that the company will post ($0.17) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Arcimoto an industry rank of 206 out of 256 based on the ratings given to its competitors.

Several equities research analysts have commented on the company. ValuEngine upgraded Arcimoto from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Chardan Capital set a $10.00 price objective on Arcimoto and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Roth Capital set a $7.00 price objective on Arcimoto and gave the stock a “buy” rating in a research report on Wednesday, July 3rd.

NASDAQ:FUV traded down $0.14 during mid-day trading on Wednesday, reaching $2.75. The stock had a trading volume of 32,941 shares, compared to its average volume of 173,086. Arcimoto has a fifty-two week low of $1.55 and a fifty-two week high of $7.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 2.03. The company has a market cap of $47.24 million, a PE ratio of -3.93 and a beta of 0.23. The company has a 50 day moving average of $3.08.

Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in Arcimoto during the second quarter worth $57,000. Spark Investment Management LLC purchased a new stake in Arcimoto in the first quarter worth $66,000. Virtu Financial LLC purchased a new position in shares of Arcimoto in the first quarter valued at $72,000. Finally, BlackRock Inc. grew its position in shares of Arcimoto by 63.0% in the second quarter. BlackRock Inc. now owns 26,438 shares of the company’s stock valued at $85,000 after purchasing an additional 10,219 shares in the last quarter. 1.37% of the stock is owned by institutional investors.

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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