Arcimoto (NASDAQ:FUV) PT Set at $10.00 by Chardan Capital

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Chardan Capital set a $10.00 price target on Arcimoto (NASDAQ:FUV) in a research report released on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on FUV. ValuEngine raised Arcimoto from a hold rating to a buy rating in a report on Thursday, February 14th. Roth Capital raised their price objective on Arcimoto from $9.00 to $10.50 and gave the company a buy rating in a report on Friday, February 15th.

Shares of NASDAQ FUV traded down $0.06 during mid-day trading on Wednesday, hitting $2.81. 3,167 shares of the stock traded hands, compared to its average volume of 31,660. The company has a quick ratio of 1.49, a current ratio of 2.03 and a debt-to-equity ratio of 0.16. Arcimoto has a twelve month low of $1.55 and a twelve month high of $7.35. The company has a market cap of $46.10 million, a price-to-earnings ratio of -4.01 and a beta of 0.08.

Arcimoto (NASDAQ:FUV) last released its quarterly earnings data on Friday, March 29th. The company reported ($0.23) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.23). Arcimoto had a negative return on equity of 128.58% and a negative net margin of 12,476.29%. On average, research analysts anticipate that Arcimoto will post -0.72 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in FUV. Vanguard Group Inc grew its position in Arcimoto by 85.6% in the third quarter. Vanguard Group Inc now owns 35,315 shares of the company’s stock worth $131,000 after acquiring an additional 16,285 shares in the last quarter. Northern Trust Corp purchased a new stake in Arcimoto during the first quarter valued at about $106,000. Virtu Financial LLC purchased a new stake in Arcimoto during the first quarter valued at about $72,000. Finally, Spark Investment Management LLC purchased a new stake in Arcimoto during the first quarter valued at about $66,000. 1.37% of the stock is owned by institutional investors and hedge funds.

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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