In a report released today, Amit Dayal from H.C. Wainwright maintained a Hold rating on Arcimoto (FUV). The company’s shares closed last Wednesday at $13.23.
According to TipRanks.com, Dayal is a top 25 analyst with an average return of 71.2% and a 55.4% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Westport Fuel Systems, and Orion Energy Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arcimoto with a $14.00 average price target.
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Based on Arcimoto’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $683.9K and GAAP net loss of $4.64 million. In comparison, last year the company earned revenue of $33.31K and had a GAAP net loss of $4.02 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.
