Investment analysts at Dougherty & Co initiated coverage on shares of Arcimoto (NASDAQ:FUV) in a research note issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating on the stock.
A number of other equities research analysts also recently issued reports on FUV. Chardan Capital set a $10.00 price target on shares of Arcimoto and gave the company a “buy” rating in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Arcimoto in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $8.00.
Arcimoto stock opened at $1.70 on Thursday. The company’s 50 day simple moving average is $1.86 and its 200-day simple moving average is $2.70. The company has a market capitalization of $32.26 million, a price-to-earnings ratio of -2.43 and a beta of 0.02. Arcimoto has a 1 year low of $1.53 and a 1 year high of $7.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.31 and a current ratio of 0.79.
Arcimoto (NASDAQ:FUV) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.28 million. Arcimoto had a negative net margin of 30,418.75% and a negative return on equity of 242.04%. Equities analysts expect that Arcimoto will post -0.79 earnings per share for the current year.
An institutional investor recently bought a new position in Arcimoto stock. JPMorgan Chase & Co. acquired a new stake in Arcimoto Inc (NASDAQ:FUV) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,318 shares of the company’s stock, valued at approximately $57,000. JPMorgan Chase & Co. owned approximately 0.11% of Arcimoto as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 1.23% of the company’s stock.
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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