Shares of Arcimoto Inc (NASDAQ:FUV) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price objective of $7.50 for the company and are forecasting that the company will post ($0.17) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Arcimoto an industry rank of 217 out of 256 based on the ratings given to related companies.
A number of equities research analysts recently weighed in on the company. Roth Capital set a $7.00 target price on Arcimoto and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Chardan Capital set a $10.00 target price on Arcimoto and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine raised Arcimoto from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.
Arcimoto (NASDAQ:FUV) last released its earnings results on Wednesday, August 14th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). Arcimoto had a negative return on equity of 176.81% and a negative net margin of 65,833.33%. The firm had revenue of $0.01 million for the quarter. Sell-side analysts anticipate that Arcimoto will post -0.76 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Arcimoto by 63.0% during the second quarter. BlackRock Inc. now owns 26,438 shares of the company’s stock worth $85,000 after buying an additional 10,219 shares in the last quarter. Spark Investment Management LLC acquired a new stake in Arcimoto during the first quarter worth about $66,000. Virtu Financial LLC acquired a new stake in Arcimoto during the first quarter worth about $72,000. Finally, JPMorgan Chase & Co. acquired a new stake in Arcimoto during the second quarter worth about $57,000. 1.65% of the stock is currently owned by institutional investors and hedge funds.
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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