Zacks: Analysts Expect Arcimoto Inc (FUV) Will Post Quarterly Sales of $1.11 Million

Equities analysts forecast that Arcimoto Inc (NASDAQ:FUV) will announce $1.11 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Arcimoto’s earnings. The lowest sales estimate is $300,000.00 and the highest is $1.92 million. Arcimoto reported sales of $90,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 1,133.3%. The company is scheduled to report its next quarterly earnings results on Friday, March 29th.

On average, analysts expect that Arcimoto will report full-year sales of $1.41 million for the current financial year, with estimates ranging from $540,000.00 to $2.29 million. For the next fiscal year, analysts forecast that the company will post sales of $40.87 million, with estimates ranging from $28.00 million to $53.74 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Arcimoto.

Arcimoto (NASDAQ:FUV) last released its earnings results on Friday, November 16th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.22 million. Arcimoto had a negative net margin of 5,067.42% and a negative return on equity of 71.99%.

Separately, Roth Capital began coverage on shares of Arcimoto in a research note on Thursday, November 1st. They issued a “buy” rating and a $9.00 target price for the company.

In other Arcimoto news, Director Jeff Curl acquired 25,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was acquired at an average cost of $3.00 per share, for a total transaction of $75,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Frohnmayer acquired 139,903 shares of the firm’s stock in a transaction on Monday, November 19th. The shares were acquired at an average price of $3.00 per share, with a total value of $419,709.00. The disclosure for this purchase can be found here. Insiders purchased a total of 165,913 shares of company stock valued at $497,739 over the last quarter. 56.30% of the stock is owned by company insiders.

FUV stock opened at $2.11 on Monday. The company has a market capitalization of $29.60 million, a P/E ratio of -8.79 and a beta of 0.25. The company has a quick ratio of 7.26, a current ratio of 4.46 and a debt-to-equity ratio of 0.18. Arcimoto has a 52 week low of $2.09 and a 52 week high of $5.48.

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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