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

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

Several other equities research analysts have also recently weighed in on FUV. ValuEngine upgraded Arcimoto from a hold rating to a buy rating in a research report on Wednesday, April 3rd. Roth Capital upped their price target on Arcimoto from $9.00 to $10.50 and gave the company a buy rating in a research report on Friday, February 15th.

NASDAQ FUV opened at $3.60 on Friday. The stock has a market cap of $57.35 million, a price-to-earnings ratio of -5.14 and a beta of -0.39. Arcimoto has a 52 week low of $1.55 and a 52 week high of $7.35. The company has a current ratio of 1.84, a quick ratio of 1.46 and a debt-to-equity ratio of 0.19.

Arcimoto (NASDAQ:FUV) last released its quarterly earnings data on Friday, March 29th. The company reported ($0.23) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.23). Arcimoto had a negative net margin of 11,665.26% and a negative return on equity of 104.53%. On average, analysts anticipate that Arcimoto will post -0.69 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Spark Investment Management LLC acquired a new stake in Arcimoto in the first quarter valued at $66,000. Virtu Financial LLC acquired a new stake in Arcimoto in the first quarter valued at $72,000. Finally, Vanguard Group Inc lifted its stake in Arcimoto by 85.6% in the third quarter. Vanguard Group Inc now owns 35,315 shares of the company’s stock valued at $131,000 after acquiring an additional 16,285 shares during the last quarter. Hedge funds and other institutional investors own 0.90% of the company’s stock.

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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