H.C. Wainwright Reaffirms Their Hold Rating on Arcimoto (FUV)

By Carrie Williams

H.C. Wainwright analyst Amit Dayal maintained a Hold rating on Arcimoto (FUVResearch Report) today. The company’s shares closed last Tuesday at $10.89.

According to TipRanks.com, Dayal is a top 100 analyst with an average return of 62.4% and a 49.9% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Westport Fuel Systems, and Capstone Green Energy.

Arcimoto has an analyst consensus of Moderate Buy, with a price target consensus of $18.00.

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Based on Arcimoto’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $717.4K and GAAP net loss of $8.25 million. In comparison, last year the company earned revenue of $268.5K and had a GAAP net loss of $3.7 million.

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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.