Chardan Capital Reiterates “$10.00” Price Target for Arcimoto (NASDAQ:FUV)

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Arcimoto (NASDAQ:FUV) has been given a $10.00 target price by research analysts at Chardan Capital in a research note issued on Wednesday, TipRanks reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s target price suggests a potential upside of 248.43% from the stock’s previous close.

A number of other brokerages have also recently commented on FUV. Roth Capital boosted their price target on Arcimoto from $9.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday, February 15th. ValuEngine raised Arcimoto from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th.

Arcimoto stock opened at $2.87 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. The company has a market cap of $46.10 million, a price-to-earnings ratio of -4.10 and a beta of 0.08. Arcimoto has a fifty-two week low of $1.55 and a fifty-two week high of $7.35.

Arcimoto (NASDAQ:FUV) last issued its quarterly earnings results on Friday, March 29th. The company reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). Arcimoto had a negative return on equity of 128.58% and a negative net margin of 12,476.29%. As a group, analysts forecast that Arcimoto will post -0.72 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC purchased a new position in Arcimoto in the 1st quarter worth approximately $66,000. Virtu Financial LLC purchased a new position in Arcimoto in the 1st quarter worth approximately $72,000. Northern Trust Corp purchased a new position in Arcimoto in the 1st quarter worth approximately $106,000. Finally, Vanguard Group Inc raised its holdings in Arcimoto by 85.6% in the 3rd quarter. Vanguard Group Inc now owns 35,315 shares of the company’s stock worth $131,000 after acquiring an additional 16,285 shares during the last quarter. Institutional investors own 1.37% of the company’s stock.

Arcimoto Company Profile

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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