ELIO MOTORS INC/SH SH (OTCMKTS:ELIO) Stock Price Down 3.8%

ELIO MOTORS INC/SH SH (OTCMKTS:ELIO)’s share price dropped 3.8% on Thursday . The stock traded as low as $0.90 and last traded at $1.25, approximately 1,481 shares changed hands during mid-day trading. A decline of 46% from the average daily volume of 2,748 shares. The stock had previously closed at $1.30.

Separately, ValuEngine upgraded ELIO MOTORS INC/SH SH from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

The firm has a 50 day moving average of $1.41 and a two-hundred day moving average of $1.95.

About ELIO MOTORS INC/SH SH (OTCMKTS:ELIO)

Elio Motors, Inc, a development stage company, designs, develops, manufactures, and sells automobiles. The company focuses on developing the Elio, a three wheeled vehicle for mass production in the United States, which gives 84 miles per gallon. Elio Motors, Inc was founded in 2009 and is based in Phoenix, Arizona.

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