In a report released yesterday, James McIlree from Chardan Capital reiterated a Buy rating on Arcimoto Inc (FUV), with a price target of $10. The company’s shares closed yesterday at $3.89.
According to TipRanks.com, McIlree is ranked #4548 out of 5262 analysts.
Currently, the analyst consensus on Arcimoto Inc is a Moderate Buy with an average price target of $10.25.
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Based on Arcimoto Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $3.25 million. In comparison, last year the company had a GAAP net loss of $1.53 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FUV in relation to earlier this year.
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Arcimoto, Inc. engages in the design, development, manufacturing, and sales of electric vehicles. It also involves in building products that catalyze the shift to a sustainable transportation system. The company was founded by Mark Frohnmayer on November 21, 2007 and is headquartered in Eugene, OR.
