Arcimoto Inc (NASDAQ:FUV) Given Consensus Rating of “Buy” by Brokerages

Shares of Arcimoto Inc (NASDAQ:FUV) have received an average rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.00.

Several research analysts recently commented on the stock. Aegis assumed coverage on shares of Arcimoto in a report on Thursday, June 25th. They issued a “buy” rating and a $6.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Arcimoto in a report on Wednesday, April 15th. Zacks Investment Research downgraded shares of Arcimoto from a “buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Roth Capital boosted their price objective on shares of Arcimoto from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, June 15th.

Shares of NASDAQ FUV opened at $5.32 on Wednesday. The stock has a fifty day moving average price of $2.94 and a 200 day moving average price of $1.94. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 0.26. The company has a market cap of $135.40 million, a P/E ratio of -6.65 and a beta of 1.66. Arcimoto has a 12-month low of $0.97 and a 12-month high of $5.90.

Arcimoto (NASDAQ:FUV) last announced its earnings results on Thursday, June 11th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $0.62 million during the quarter, compared to the consensus estimate of $1.01 million. Arcimoto had a negative return on equity of 335.19% and a negative net margin of 990.51%. On average, sell-side analysts forecast that Arcimoto will post -0.49 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of FUV. Valeo Financial Advisors LLC purchased a new stake in shares of Arcimoto during the first quarter valued at approximately $39,000. Greatmark Investment Partners Inc. purchased a new stake in shares of Arcimoto during the first quarter valued at approximately $34,000. Finally, BlackRock Inc. boosted its stake in shares of Arcimoto by 26.5% during the first quarter. BlackRock Inc. now owns 44,111 shares of the company’s stock valued at $50,000 after purchasing an additional 9,234 shares during the period. Institutional investors and hedge funds own 1.46% 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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Analyst Recommendations for Arcimoto (NASDAQ:FUV)

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