Arcimoto, Inc. (NASDAQ:FUV) Expected to Announce Quarterly Sales of $1.36 Million

Wall Street brokerages expect Arcimoto, Inc. (NASDAQ:FUV) to post $1.36 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Arcimoto’s earnings. The highest sales estimate is $2.00 million and the lowest is $720,000.00. Arcimoto posted sales of $680,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 100%. The firm is expected to report its next earnings results after the market closes on Tuesday, October 12th.

On average, analysts expect that Arcimoto will report full year sales of $6.33 million for the current financial year, with estimates ranging from $3.66 million to $9.00 million. For the next financial year, analysts anticipate that the business will post sales of $30.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Arcimoto.

Arcimoto (NASDAQ:FUV) last posted its earnings results on Sunday, August 15th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.10). Arcimoto had a negative net margin of 698.71% and a negative return on equity of 42.63%. The business had revenue of $0.72 million during the quarter, compared to analyst estimates of $2.23 million.

FUV has been the topic of several recent research reports. Alliance Global Partners initiated coverage on Arcimoto in a report on Friday, September 10th. They set a “buy” rating and a $18.00 target price on the stock. Colliers Securities restated a “buy” rating on shares of Arcimoto in a report on Thursday, July 1st. HC Wainwright restated a “hold” rating on shares of Arcimoto in a report on Wednesday. Finally, Zacks Investment Research lowered Arcimoto from a “hold” rating to a “sell” rating in a report on Thursday, August 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.50.

Shares of Arcimoto stock traded down $0.13 during midday trading on Wednesday, hitting $10.76. The company’s stock had a trading volume of 782,264 shares, compared to its average volume of 1,687,415. The firm has a market capitalization of $402.34 million, a P/E ratio of -15.39 and a beta of 2.47. The stock has a 50-day simple moving average of $12.47 and a 200-day simple moving average of $12.47. The company has a quick ratio of 6.47, a current ratio of 7.44 and a debt-to-equity ratio of 0.02. Arcimoto has a 1-year low of $5.10 and a 1-year high of $36.80.

Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new stake in Arcimoto during the second quarter worth about $37,000. Legal & General Group Plc acquired a new stake in Arcimoto during the second quarter worth about $50,000. Meeder Asset Management Inc. acquired a new stake in Arcimoto during the second quarter worth about $72,000. Pinz Capital Management LP acquired a new stake in Arcimoto during the second quarter worth about $115,000. Finally, UBS Group AG grew its position in Arcimoto by 581.5% during the first quarter. UBS Group AG now owns 9,173 shares of the company’s stock worth $122,000 after buying an additional 7,827 shares in the last quarter. 23.94% of the stock is currently owned by institutional investors and hedge funds.

Arcimoto Company Profile

Arcimoto, Inc develops and manufactures electric vehicles to help the world shift to a transportation system. The firm’s vehicle products include Fun Utility Vehicle, Rapid Responder, Deliverator, Cameo and Arcimoto Roadster. The product Fun Utility Vehicle is for everyday consumer trips. The Rapid Responder is for emergency services and security.

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