Arcimoto (NASDAQ:FUV) PT lowered to $11.00 at Alliance Global Partners


Arcimoto (NASDAQ: FUV – Get Note) had its target price reduced by Alliance Global Partners from $18.00 to $11.00 in a research report released Thursday to clients and investors, reports The Fly. Alliance Global Partners’ price target indicates a potential upside of 215.19% from the company’s current price.

Several other stock analysts also weighed in on the stock. Dawson James kicked off coverage of Arcimoto’s stock in a Tuesday, March 15 report. They set a “neutral” rating for the company. Zacks Investment Research upgraded Arcimoto’s shares from a “sell” rating to a “hold” rating in a report released Wednesday. Three investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Shares of NASDAQ:FUV traded down $0.09 during Thursday’s trading, hitting $3.49. 535,040 shares of shares traded in hands, compared to its average volume of 860,542. The company has a quick ratio of 1.34, a current ratio of 2.42 and a leverage ratio of 0.04. The company has a market capitalization of $135.34 million, a price-earnings ratio of -2.31 and a beta of 2.58. The company has a fifty-day moving average price of $4.54 and a two-hundred-day moving average price of $6.50. Arcimoto has a 52-week low of $3.09 and a 52-week high of $18.77.

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

A number of hedge funds and other institutional investors have recently shifted their holdings to FUV. Prospera Financial Services Inc bought a new stake in Arcimoto in Q1 worth $37,000. BNP Paribas Arbitrage SA increased its stake in Arcimoto by 389.6% in the third quarter. BNP Paribas Arbitrage SA now owns 5,165 shares in the company worth $59,000 after buying an additional 4,110 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Arcimoto during Q4 worth $75,000. Level Four Advisory Services LLC acquired a new stake in Arcimoto during Q1 valued at $83,000. Finally, Sittner & Nelson LLC increased its stake in Arcimoto by 1,155.6% in the 1st quarter. Sittner & Nelson LLC now owns 13,435 shares of the company worth $89,000 after purchasing an additional 12,365 shares in the last quarter. 24.66% of the stock is held by institutional investors.

About Arcimoto (Get a rating)

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

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