Arcimoto, Inc. (NASDAQ:FUV) shares dropped 6.4% during mid-day trading on Thursday . The stock traded as low as $13.10 and last traded at $13.23. Approximately 1,776,398 shares changed hands during trading, an increase of 48% from the average daily volume of 1,201,277 shares. The stock had previously closed at $14.13.
Several research firms have recently weighed in on FUV. Aegis raised their price target on shares of Arcimoto from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, November 17th. Zacks Investment Research lowered Arcimoto from a “hold” rating to a “sell” rating in a report on Thursday, November 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.25.
The company has a market cap of $437.70 million, a PE ratio of -20.35 and a beta of 2.96. The stock has a 50 day simple moving average of $12.96 and a two-hundred day simple moving average of $7.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.55 and a quick ratio of 5.63.
Arcimoto (NASDAQ:FUV) last announced its earnings results on Sunday, November 15th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Arcimoto had a negative net margin of 645.68% and a negative return on equity of 126.41%. The business had revenue of $0.68 million during the quarter, compared to analyst estimates of $1.16 million. As a group, equities analysts anticipate that Arcimoto, Inc. will post -0.56 EPS for the current fiscal year.
In other news, Director Jesse Grant Eisler sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $6.33, for a total value of $63,300.00. Following the completion of the sale, the director now directly owns 481,608 shares of the company’s stock, valued at approximately $3,048,578.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 40,000 shares of company stock worth $437,100 in the last ninety days. 34.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of FUV. Alps Advisors Inc. bought a new stake in shares of Arcimoto during the 3rd quarter valued at $753,000. Private Advisor Group LLC purchased a new position in shares of Arcimoto during the 2nd quarter worth about $1,315,000. Advisor Group Holdings Inc. grew its holdings in Arcimoto by 26.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 17,515 shares of the company’s stock valued at $93,000 after purchasing an additional 3,675 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Arcimoto in the 2nd quarter worth about $103,000. Finally, LPL Financial LLC purchased a new stake in Arcimoto in the 3rd quarter worth about $156,000. 6.07% of the stock is owned by institutional investors.
Arcimoto Company Profile (NASDAQ:FUV)
Arcimoto, Inc designs, develops, manufactures, and sells three-wheeled electric vehicles. Its portfolio of electric vehicles includes Fun Utility Vehicle; Rapid Responder for a specialized emergency, security, and law enforcement services; and Deliverator for delivery of goods. The company was formerly known as WTP Incorporated and changed its name to Arcimoto, Inc in December 2011.
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