Arcimoto, Inc. (NASDAQ:FUV – Get Rating)'s share price dropped 1.1% on Wednesday . The stock traded as low as $1.70 and last traded at $1.75. Approximately 119,612 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 695,122 shares. The stock had previously closed at $1.77.
Wall Street Analysts Forecast Growth
Separately, Dawson James upgraded shares of Arcimoto from a "sell" rating to a "neutral" rating in a research note on Wednesday, February 15th.
Get Arcimoto alerts:Arcimoto Trading Down 4.7 %
The business's fifty day simple moving average is $2.56 and its 200 day simple moving average is $13.63. The company has a current ratio of 1.28, a quick ratio of 0.66 and a debt-to-equity ratio of 0.18. The stock has a market cap of $4.20 million, a P/E ratio of -0.05 and a beta of 2.26.
Institutional Trading of Arcimoto
A number of hedge funds and other institutional investors have recently made changes to their positions in FUV. Vident Investment Advisory LLC boosted its position in Arcimoto by 122.0% during the first quarter. Vident Investment Advisory LLC now owns 31,580 shares of the company's stock worth $209,000 after purchasing an additional 17,353 shares during the period. Renaissance Technologies LLC acquired a new position in Arcimoto in the third quarter valued at about $178,000. UBS Group AG raised its stake in Arcimoto by 15.4% in the first quarter. UBS Group AG now owns 23,502 shares of the company's stock valued at $155,000 after purchasing an additional 3,145 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Arcimoto in the first quarter valued at about $153,000. Finally, Two Sigma Investments LP raised its stake in Arcimoto by 930.2% in the third quarter. Two Sigma Investments LP now owns 106,063 shares of the company's stock valued at $146,000 after purchasing an additional 95,768 shares in the last quarter.
About Arcimoto
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Arcimoto, Inc engages in the design, development, manufacture, sale, and rental of three-wheeled electric vehicles. 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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