|Bid||1.5400 x 1300|
|Ask||1.5900 x 4000|
|Day's Range||1.5100 - 1.7800|
|52 Week Range||1.5100 - 13.2600|
|Beta (5Y Monthly)||2.47|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
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Arcimoto’s interim CEO is optimistic the company can raise capital and get over a scaling hump without the “painful” cost cutting that one analyst believes will be necessary. Dawson James Securities on Tuesday downgraded its Arcimoto position from neutral to sell, citing the Eugene electric vehicle maker’s challenging cash position. “We expect the company will have to confront painful choices over the coming months as its cash needs are exigent and options are dwindling,” analyst James McIlree wrote.
Arcimoto has borrowed $10 million, giving it badly needed cash to fund operations as it tries to scale up production and build demand for its three-wheeled electric vehicle offerings. Arcimoto reported $5 million on hand as of June 30. The new financing arrangement with an institutional investor party identified in securities filings as 3i LP avoids substantial stock dilution immediately, although Arcimoto can pay back the first $10 million, 6% interest note with stock over its two-year term.
Green Power (GP) and Arcimoto (FUV) post wider-than-expected losses in their latest quarterly reports. The bottom line also deteriorates year over year.