$280,000.00 in Sales Expected for Arcimoto Inc (NASDAQ:FUV) This Quarter

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Wall Street brokerages expect that Arcimoto Inc (NASDAQ:FUV) will announce $280,000.00 in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Arcimoto’s earnings, with the highest sales estimate coming in at $500,000.00 and the lowest estimate coming in at $50,000.00. Arcimoto posted sales of $10,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 2,700%. The company is expected to report its next earnings report on Friday, November 15th.

According to Zacks, analysts expect that Arcimoto will report full-year sales of $2.05 million for the current year, with estimates ranging from $930,000.00 to $3.20 million. For the next year, analysts forecast that the company will post sales of $31.78 million, with estimates ranging from $14.54 million to $40.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Arcimoto.

Arcimoto (NASDAQ:FUV) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.06). The business had revenue of $0.01 million during the quarter. Arcimoto had a negative net margin of 65,833.33% and a negative return on equity of 176.81%.

Several analysts recently weighed in on the company. Chardan Capital set a $10.00 price objective on Arcimoto and gave the company a “buy” rating in a research note on Monday, September 30th. HC Wainwright assumed coverage on Arcimoto in a research note on Friday, September 6th. They issued a “buy” rating and a $7.00 price objective on the stock. ValuEngine upgraded Arcimoto from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Roth Capital set a $7.00 target price on Arcimoto and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

An institutional investor recently raised its position in Arcimoto stock. BlackRock Inc. lifted its stake in shares of Arcimoto Inc (NASDAQ:FUV) by 63.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,438 shares of the company’s stock after acquiring an additional 10,219 shares during the quarter. BlackRock Inc. owned approximately 0.16% of Arcimoto worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 1.58% of the stock is owned by institutional investors.

NASDAQ:FUV traded down $0.12 during trading hours on Friday, hitting $2.07. The company’s stock had a trading volume of 120,695 shares, compared to its average volume of 150,650. The stock has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $3.24. The company has a market capitalization of $41.28 million, a P/E ratio of -2.96 and a beta of 0.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.54. Arcimoto has a twelve month low of $1.55 and a twelve month high of $7.35.

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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