NASDAQ Profile (FUV) Is Red Hot This Morning On Breaking News, Up An Approximate 14%
Could (FUV) Gain More Steam For A Bigger Breakout? Pull Up This Low Float Idea With Major Analyst Coverage
Your new NASDAQ profile (FUV) is smoking hot out of the opening bell on major breaking news. Read it here:
Arcimoto Announces Strategic Agreement With Munro & Associates To Plan For High Volume Production of Ultra Efficient Electric Vehicles
Lean Design expert Munro & Associates will evaluate Arcimoto manufacturing processes and supply chain in order to drive down costs and accelerate scale.
EUGENE, Ore.--(BUSINESS WIRE)--Arcimoto, Inc.® (NASDAQ: FUV), makers of the Fun Utility Vehicle® (FUV®), Rapid Responder™, and Deliverator™–affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets–announced today that it has teamed with Munro & Associates to evaluate Arcimoto’s manufacturing processes and supply chain management in order to drive down costs and begin high-volume production of Arcimoto ultra-efficient electric vehicles.
“Sandy Munro is a legend in this industry and we are thrilled to work with him,” said Mark Frohnmayer, Arcimoto Founder and CEO. “We are confident his team’s expertise will help us to improve the quality of every vehicle we make, as well as streamline our manufacturing processes as we prepare to shift into volume production.”
Munro & Associates is a global leader in helping manufacturers create breakthrough products that leap-frog the competition in innovation, profitability and quality, and is known worldwide for its pioneering work in Lean Design® and its proprietary Design Profit® software, as well as for its recent vehicle teardowns and benchmarking of BMW’s i3 and Tesla’s Model 3 and Model Y.
“OK, let’s start off with the fun part. This is a fun trike, no question about it!” exclaimed Sandy Munro, CEO of Munro & Associates. “It is definitely not your grandpa’s electric three wheeler… unless I am your grandpa. Munro is very excited to be part of this new adventure, this new way of traveling. We can hardly wait to get started. I look forward to doing everything I can to make this vehicle as profitable as possible. Have a great day, and go buy one!”
With this huge news, FUV came out of the opening bell like a steamroller hitting an early morning high of $4.479.
Currently, FUV is up by an approximate 14%.
Before it's too late, get FUV on your radar and read through my initial report below.
Today's new NASDAQ profile has been on such a heater of recent, that there is no time to mess around.
Right now, you need to get Arcimoto, Inc. (NASDAQ: FUV) on your radar this instant.
Arcimoto, Inc. designs, develops, manufactures, and sells three-wheeled electric vehicles. Its portfolio of electric vehicles includes Fun Utility Vehicle; Rapid Responder for a specialized emergency, security, and law enforcement services; and Deliverator for delivery of goods.
And, based on several potential catalysts, FUV could be ready for a significant breakout. Follow along now...
No. 1 Potential (FUV) Catalyst - Major Analyst Coverage
As of today, there are several different analysts covering FUV with the majority believing the stock is currently undervalued at its closing price yesterday. Here are the top 2:
#1. James McIlree from Chardan Capital provided a Buy rating on Arcimoto Inc (FUV), with a price target of $10.00.
From Tuesday's closing valuation of $3.31, this price target gives FUV upside potential of 202%.
#2. Arcimoto had its “buy” rating restated by analysts at HC Wainwright. They currently have a $7.00 price objective on FUV.
From Tuesday's closing valuation of $3.31, this price target gives FUV upside potential of 111%.
No. 2 Potential (FUV) Catalyst - Bullish Technical Indicators
At this moment, Barchart(dot)com is reporting FUV as a "72% BUY" overall based on short, medium, and long-term technical indicators.
Even more important, on short-term alone, the website reports FUV to be a "100% BUY."
Here are 10 of the triggered indicators that Barchart is reporting:
- 20 Day Moving Average
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
- 50 Day Moving Average
- 50 - 100 Day MACD Oscillator
- 50 - 150 Day MACD Oscillator
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
With all of these triggered, FUV could be in the process of running down those 2 price targets mentioned above. Wouldn't that be something?
No. 3 Potential (FUV) Catalyst - 2019 Corporate Update
Arcimoto Announces Full Year 2019 Results and Provides Corporate Update
EUGENE, Ore.--(BUSINESS WIRE)--Arcimoto, Inc.® (Nasdaq: FUV) (“Arcimoto” or the “Company”), makers of the Fun Utility Vehicle® (FUV®), an affordable, practical, and thrilling pure electric vehicle for everyday commuters and fleets, today provided a corporate update and announced [...] results for the fiscal year ended December 31, 2019.
2019 and Recent Company Highlights:
- Arcimoto announced the completed Federal Motor Vehicle Safety Standards regulatory testing for its flagship FUV product and began commercial production of and delivery to its first retail customers on September 19, 2019. In total, Arcimoto manufactured 53 retail FUVs and delivered 46 units by the end of 2019. Notably, in Q4 alone, the Company built more vehicles than in the previous twelve years combined. Net pre-orders increased by 980 over the course of 2019 to a total of 4,197 as of December 31.
- At the end of 3Q19, the Company signed its first rental franchise in Key West with R-KEY-MOTO, LLC and subsequently delivered its first 8 FUVs to the franchisee by the end of 2019, intended for use by tourists.
- Early in 4Q19, the Company delivered the first of what is planned to be 40 FUVs to GoCar Tours of San Francisco for GPS-guided tours.
- The Company made its first international shipment of FUVs as part of its agreement with New Zealand-based EV Distributors to deliver a minimum of 160 Arcimoto vehicles over the next four years.
- Arcimoto participated in several tradeshows and events in 2019, including showcasing the Rapid Responder™ at the Wall Street Journal Future of Everything Festival, addressing the Canaccord Genuity Future of Transport Conference at the Singularity University’s Exponential Manufacturing Summit in Bangkok, Thailand, as well as presenting at multiple investor conferences, including the 12th Annual LD Micro Main Event, Dougherty & Co. Institutional Investor Conference, and 9th Annual LD Micro Invitational.
- Arcimoto was featured in dozens of media pieces during 2019 and now 2020, including Forbes, Ars Technica, Tom’s Guide Mashable, Cheddar, and Portland Business Journal.
- Arcimoto reached an agreement for Road America to provide nationwide 24-hour roadside assistance and access to its network of 170,000 pre-certified repair centers to FUV owners.
- Arcimoto has initiated pilot programs for the Company’s fleet-based platform offerings with the Eugene-Springfield Fire Department for the Rapid Responder™ and with local nonprofit Carry It Forward for the Deliverator™. The Company has signed a contract to expand the Deliverator™ pilot program to include a major national grocer in Q2 2020.
Total revenues in 2019 were up 940% to $987K+ as compared to $94K+ in 2018. Sources of revenue in 2019 were $891K+ from the sale of vehicles, including $20K+ of which was with a related party, $49,K+ from vehicle delivery charges and merchandise sales, $44K+ from machining and metal work services, and $2K+ from parts and service. The increased revenue in 2019 was largely driven by the sale and delivery of 46 Evergreen Edition FUVs.
No. 4 Potential (FUV) Catalyst - CEO Gives 2019 Recap, Provides 2020 Outlook & Beyond
Arcimoto CEO Provides 2019 Business Recap and Outlines Plans for 2020
EUGENE, Ore.--(BUSINESS WIRE)--Arcimoto, Inc.® (NASDAQ: FUV), a leading manufacturer of ultra-efficient three-wheeled everyday electric vehicles, today provided the following business update from the Company’s CEO, Mark Frohnmayer.
The Watershed Year
“2019 was the most pivotal year in Arcimoto’s history. We achieved a milestone twelve years in the making with the launch of retail production of the Fun Utility Vehicle (FUV) at our automated factory in Oregon.
We also demonstrated the flexibility of the Arcimoto platform. We introduced the Rapid Responder in February and in March we unveiled the Deliverator. Designed to address the needs of emergency/security response and last mile delivery respectively, we believe Arcimoto’s full family of platform products will provide the sales and production volume necessary for the Company to become a meaningful producer in the clean transportation space.
Finally, we further defined Arcimoto’s initial in-market experience model. We believe both the franchise dealer sales model of traditional automotive and the retail test drive outlet model utilized by companies like Tesla have drawbacks; either intermediary margins or company capital and operating overhead. In 2019, we put forward a manufacturer rental franchise model intended to overcome these deficiencies. At the end of Q3 we signed our first rental franchise in Key West, and by December 31 had delivered its first 8 FUVs. In addition, we shipped the first of 40 planned FUVs to GoCar Tours of San Francisco.
Production, Delivery, Pre-orders
In September we completed FMVSS regulatory testing for our flagship product, the FUV, and we began production and delivery to our first retail customers on September 19.
Production started at a rate of four units per week, which doubled to eight per week at the beginning of December. In total, Arcimoto manufactured 57 and delivered 45 retail FUVs by year’s end.
Notably, in Q4 alone, we built more vehicles than in the previous twelve years combined.
Our concerted team effort and resources were largely directed to achieve production and build the systems needed to support a production enterprise, with marketing efforts kept to a minimum. Even so, our net pre-orders increased by 1,219 over the course of the year, to a total of 4,220 as of December 31.
2020 Vision (and beyond)
Our mandate is clear: increase production rate to meet Arcimoto’s pre-order backlog and anticipated future market demand, and drive down cost to achieve pro*fit*able venture margins and offer ever more affordable products to an ever-wider addressable market. We aim to step up to 12 units per week by the end of Q1 and 16 per week by the end of Q2 as we build the ramp to a planned 200 units per week by early 2021.
In Q1 we plan to launch the first Deliverator and Rapid Responder pilot vehicles in anticipation of series production of both models by the end of the year.
We also plan to expand our in-market rental model, ensuring the visibility and availability of the FUV in more key destination markets around the country.
Looking further, we intend to increase our national and global manufacturing and distribution capabilities through strategic partnerships and corporate expansion, in order to make a meaningful dent in global automotive emissions and fully realize our mission to catalyze the shift to a sustainable transportation system.
None of this would be possible without the steadfast support of our investors, suppliers, customers, and fans. We deeply appreciate your continued enthusiasm for this endeavor and our mission.”
These 4 potential catalysts, along with a Yahoo Finance reported low float of just under 14Mn shares, could give FUV the fuel for a significant breakout from current trading levels.
(FUV) coverage initiated immediately.