The price of Canoo Inc. (NASDAQ:GOEV) shares last traded on Wall Street fell -0.80% to $1.24.
Based on available information, 4 analysts follow Canoo Inc. (NASDAQ:GOEV). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $1.00, we find $5.00. Given the previous closing price of $1.25, this indicates a potential upside of 300.0 percent. GOEV stock price is now -27.78% away from the 50-day moving average and -65.40% away from the 200-day moving average. The market capitalization of the company currently stands at $405.60M.
Among analysts, 1 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $5.25 as their price target over the next twelve months.
With the price target of $4, Stifel recently initiated with Buy rating for Canoo Inc. (NASDAQ: GOEV). On December 16, 2021, ROTH Capital Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $9 to quote $14, while ‘H.C. Wainwright’ rates the stock as ‘Buy’.
In other news, Sheeran Josette, President sold 36,880 shares of the company’s stock on Nov 16. The stock was sold for $53,107 at an average price of $1.44. Upon completion of the transaction, the President now directly owns 1,361,511 shares in the company, valued at $1.69 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 16, SVP, ICFO and CAO MURTHY RAMESH sold 516 shares of the business’s stock. A total of $743 was realized by selling the stock at an average price of $1.44. This leaves the insider owning 275,133 shares of the company worth $0.34 million. Insiders disposed of 62,353,236 shares of company stock worth roughly $77.32 million over the past 1 year. A total of 1.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GOEV stock. A new stake in Canoo Inc. shares was purchased by AXA S.A. during the first quarter worth $572,000. ETF MANAGERS GROUP, LLC invested $218,000 in shares of GOEV during the first quarter. In the first quarter, AMUNDI acquired a new stake in Canoo Inc. valued at approximately $197,000. KESTRA ADVISORY SERVICES, LLC acquired a new stake in GOEV for approximately $182,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in GOEV valued at around $138,000 in the second quarter. In total, there are 204 active investors with 31.90% ownership of the company’s stock.
A candlestick chart of Canoo Inc. (NASDAQ: GOEV) showed a price of $1.2800 on Friday morning. During the past 12 months, Canoo Inc. has had a low of $1.16 and a high of $13.35. As of last week, the company has a debt-to-equity ratio of 0.05, a current ratio of 0.20, and a quick ratio of 0.20. The fifty day moving average price for GOEV is $1.6877 and a two-hundred day moving average price translates $3.5618 for the stock.
The latest earnings results from Canoo Inc. (NASDAQ: GOEV) was released for Jun, 2022. For the current quarter, analysts expect GOEV to generate $5M in revenue.
Canoo Inc.(GOEV) Company Profile
Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis design to support various range of vehicle weight and ride profiles. The company serves to small businesses, independent contractors, tradespeople, utilities, and service technicians. Canoo Inc. was founded in 2017 and is headquartered in Torrance, California.