Arcimoto Inc (NASDAQ:FUV) Sees Significant Increase in Short Interest

Arcimoto Inc (NASDAQ:FUV) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 141,000 shares, an increase of 23.6% from the August 30th total of 114,100 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily volume of 46,300 shares, the short-interest ratio is currently 3.0 days.

Shares of NASDAQ FUV traded up $0.14 during mid-day trading on Friday, hitting $2.31. The stock had a trading volume of 95,463 shares, compared to its average volume of 87,060. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.54. The company has a 50 day moving average of $3.12 and a two-hundred day moving average of $3.33. Arcimoto has a twelve month low of $1.55 and a twelve month high of $7.35.

Arcimoto (NASDAQ:FUV) last released its earnings results on Wednesday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.06). Arcimoto had a negative net margin of 65,833.33% and a negative return on equity of 176.81%. The firm had revenue of $0.01 million during the quarter. As a group, equities research analysts forecast that Arcimoto will post -0.81 earnings per share for the current year.

A number of equities analysts have recently issued reports on FUV shares. ValuEngine raised Arcimoto from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Chardan Capital set a $10.00 price target on Arcimoto and gave the stock a “buy” rating in a research report on Monday, September 30th. Roth Capital set a $7.00 price target on Arcimoto and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, HC Wainwright started coverage on Arcimoto in a research report on Friday, September 6th. They set a “buy” rating and a $7.00 price target on the stock.

A hedge fund recently bought a new stake in Arcimoto stock. JPMorgan Chase & Co. bought a new stake in Arcimoto Inc (NASDAQ:FUV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,318 shares of the company’s stock, valued at approximately $57,000. JPMorgan Chase & Co. owned 0.11% of Arcimoto at the end of the most recent reporting period. Institutional investors own 1.58% 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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