Canoo Inc. (NASDAQ:GOEV - Get Free Report) traded up 5.6% during mid-day trading on Monday . The stock traded as high as $1.96 and last traded at $1.90. 2,288,606 shares changed hands during trading, a decline of 64% from the average session volume of 6,381,718 shares. The stock had previously closed at $1.80.
Analyst Ratings Changes
Several research firms recently commented on GOEV. R. F. Lafferty lowered Canoo from a "buy" rating to a "hold" rating in a research report on Wednesday, May 15th. Benchmark reiterated a "buy" rating and issued a $5.00 target price on shares of Canoo in a report on Wednesday, May 22nd. Roth Mkm decreased their price target on Canoo from $4.00 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, May 15th. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of Canoo in a research report on Wednesday, May 15th. Finally, Alliance Global Partners cut their price objective on shares of Canoo from $20.00 to $18.50 and set a "buy" rating on the stock in a research report on Friday, March 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.79.
View Our Latest Report on GOEV
Canoo Trading Up 10.0 %
The stock has a 50 day moving average of $2.53 and a 200-day moving average of $3.51. The stock has a market capitalization of $135.77 million, a P/E ratio of -0.19 and a beta of 1.28.
Canoo (NASDAQ:GOEV - Get Free Report) last issued its earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.97) by ($1.23). During the same quarter in the previous year, the firm earned ($3.91) EPS. Research analysts anticipate that Canoo Inc. will post -4.37 EPS for the current year.
Hedge Funds Weigh In On Canoo
A number of hedge funds have recently added to or reduced their stakes in GOEV. SG Americas Securities LLC raised its holdings in shares of Canoo by 95.6% in the first quarter. SG Americas Securities LLC now owns 22,065 shares of the company's stock valued at $79,000 after acquiring an additional 10,786 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Canoo during the third quarter worth about $72,000. Swiss National Bank increased its stake in Canoo by 20.5% during the 3rd quarter. Swiss National Bank now owns 935,200 shares of the company's stock valued at $458,000 after purchasing an additional 159,400 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Canoo in the 1st quarter worth $900,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Canoo in the third quarter worth about $133,000. 36.23% of the stock is currently owned by institutional investors.
Canoo Company Profile
(Get Free Report)
Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.
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