Arcimoto (NASDAQ:FUV) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Arcimoto (NASDAQ:FUV) from a hold rating to a sell rating in a report released on Wednesday, reports.

According to Zacks, “Arcimoto, Inc. develops and manufactures electric vehicles. The Company offers two-seat and three-wheeled electric vehicles. It also provides bicycles and automotive parts. Arcimoto, Inc. is based in Eugene, United States. “

A number of other analysts also recently issued reports on the company. HC Wainwright downgraded Arcimoto from a buy rating to a neutral rating in a research note on Thursday, April 1st. Aegis raised their target price on Arcimoto from $11.00 to $19.00 and gave the stock a buy rating in a research note on Thursday, April 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Arcimoto currently has an average rating of Hold and an average price target of $11.25.

NASDAQ FUV opened at $12.55 on Wednesday. The business has a fifty day moving average price of $17.22 and a 200 day moving average price of $14.28. Arcimoto has a one year low of $1.20 and a one year high of $36.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.63 and a current ratio of 7.55. The company has a market cap of $448.76 million, a P/E ratio of -19.31 and a beta of 2.92.

Arcimoto (NASDAQ:FUV) last posted its quarterly earnings data on Tuesday, March 30th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). Arcimoto had a negative net margin of 645.68% and a negative return on equity of 126.41%. As a group, sell-side analysts predict that Arcimoto will post -0.56 EPS for the current fiscal year.

In related news, Director Jesse Grant Eisler sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 21st. The stock was sold at an average price of $20.48, for a total transaction of $204,800.00. Following the completion of the transaction, the director now directly owns 451,608 shares in the company, valued at approximately $9,248,931.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 34.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. purchased a new position in shares of Arcimoto in the 4th quarter valued at about $3,167,000. BlackRock Inc. raised its position in shares of Arcimoto by 43.0% during the 4th quarter. BlackRock Inc. now owns 535,265 shares of the company’s stock worth $7,081,000 after acquiring an additional 160,916 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Arcimoto during the 3rd quarter worth about $156,000. Cetera Advisors LLC acquired a new stake in shares of Arcimoto during the 4th quarter worth about $173,000. Finally, One68 Global Capital LLC acquired a new stake in shares of Arcimoto during the 4th quarter worth about $133,000. Institutional investors and hedge funds own 10.07% of the company’s stock.

Arcimoto Company Profile

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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