Arcimoto (NASDAQ:FUV) Raised to “Hold” at Zacks Investment Research

Arcimoto (NASDAQ:FUVGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com 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. “

Separately, Dawson James initiated coverage on shares of Arcimoto in a research report on Tuesday, March 15th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arcimoto currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Shares of FUV traded down $0.60 during midday trading on Wednesday, hitting $3.40. The stock had a trading volume of 2,773,536 shares, compared to its average volume of 863,632. Arcimoto has a fifty-two week low of $3.09 and a fifty-two week high of $18.77. The business has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $6.50. The firm has a market cap of $131.85 million, a P/E ratio of -2.25 and a beta of 2.60. The company has a current ratio of 2.42, a quick ratio of 1.34 and a debt-to-equity ratio of 0.04.

Arcimoto (NASDAQ:FUVGet Rating) last announced its earnings results on Thursday, March 31st. The company reported ($0.63) EPS for the quarter. Arcimoto had a negative return on equity of 88.20% and a negative net margin of 1,385.05%. The firm had revenue of $1.16 million during the quarter. During the same period last year, the firm posted ($0.19) EPS. On average, analysts expect that Arcimoto will post -1.33 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of Arcimoto by 14.6% in the first quarter. Invesco Ltd. now owns 2,603,216 shares of the company’s stock worth $17,208,000 after acquiring an additional 331,832 shares during the last quarter. BlackRock Inc. boosted its stake in Arcimoto by 1.5% during the fourth quarter. BlackRock Inc. now owns 1,800,634 shares of the company’s stock worth $14,008,000 after buying an additional 26,294 shares in the last quarter. Vanguard Group Inc. boosted its stake in Arcimoto by 14.0% during the first quarter. Vanguard Group Inc. now owns 1,611,736 shares of the company’s stock worth $10,654,000 after buying an additional 197,874 shares in the last quarter. Geode Capital Management LLC boosted its stake in Arcimoto by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 575,901 shares of the company’s stock worth $4,480,000 after buying an additional 34,730 shares in the last quarter. Finally, State Street Corp boosted its stake in Arcimoto by 5.6% during the fourth quarter. State Street Corp now owns 543,105 shares of the company’s stock worth $4,225,000 after buying an additional 28,659 shares in the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

Arcimoto Company Profile (Get Rating)

Arcimoto, Inc designs, develops, manufactures, sells, and rents three-wheeled electric vehicles in the United States. Its flagship product is the Fun Utility Vehicle (FUV) use for everyday consumer trips. The company also provides Rapid Responder designed to perform emergency, security, and law enforcement services; Deliverator, an electric last-mile delivery solution to get goods where they need to go; Cameo, an FUV equipped with a rear-facing rear seat and a modified roof built for on-road filming; and Arcimoto Roadster, an unparalleled pure-electric on-road thrill machine.

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