Arcimoto (NASDAQ:FUV) Receives “Buy” Rating from HC Wainwright

Arcimoto (NASDAQ:FUV)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday, reports. They currently have a $7.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 224.07% from the company’s current price.

Other research analysts have also recently issued reports about 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 target on Arcimoto and gave the company a “buy” rating in a research report on Monday, September 30th.

Shares of NASDAQ:FUV traded up $0.36 during trading on Friday, hitting $2.16. The stock had a trading volume of 11,275 shares, compared to its average volume of 101,957. Arcimoto has a 12-month low of $1.55 and a 12-month high of $7.35. The stock has a market capitalization of $36.74 million, a price-to-earnings ratio of -3.11 and a beta of 0.06. The company has a quick ratio of 0.31, a current ratio of 0.79 and a debt-to-equity ratio of 0.81. The stock has a 50-day simple moving average of $2.18 and a two-hundred day simple moving average of $2.90.

Arcimoto (NASDAQ:FUV) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Arcimoto had a negative return on equity of 242.04% and a negative net margin of 30,418.75%. The firm had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.28 million. As a group, sell-side analysts forecast that Arcimoto will post -0.87 earnings per share for the current year.

A hedge fund recently bought a new stake in Arcimoto stock. JPMorgan Chase & Co. purchased a new stake in shares of Arcimoto Inc (NASDAQ:FUV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,318 shares of the company’s stock, valued at approximately $57,000. JPMorgan Chase & Co. owned approximately 0.11% of Arcimoto at the end of the most recent quarter. 1.43% of the stock is currently owned by hedge funds and other 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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