In yesterday’s Wall Street session, Canoo Inc. (NASDAQ:GOEV) shares traded at $0.64, down -1.81% from the previous session.
4 analysts cover Canoo Inc. (NASDAQ:GOEV), according to research data. 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 $2.33. Given the previous closing price of $0.66, this indicates a potential upside of 253.03 percent. GOEV stock price is now -0.95% away from the 50-day moving average and -56.24% away from the 200-day moving average. The market capitalization of the company currently stands at $326.06M.
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The stock has received a hold rating from 1 analysts and a buy rating from 3. Brokers who have rated the stock have averaged $3.91 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, MURTHY RAMESH, SVP and CAO sold 496 shares of the company’s stock on May 16. The stock was sold for $312 at an average price of $0.63. Upon completion of the transaction, the SVP and CAO now directly owns 287,462 shares in the company, valued at $0.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 17, SVP and CAO MURTHY RAMESH sold 945 shares of the business’s stock. A total of $640 was realized by selling the stock at an average price of $0.68. This leaves the insider owning 288,020 shares of the company worth $0.18 million. Insiders disposed of 4,651,473 shares of company stock worth roughly $2.98 million over the past 1 year. A total of 3.00% 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 INFINI CAPITAL MANAGEMENT LTD during the first quarter worth $10,798,000. RENAISSANCE TECHNOLOGIES LLC invested $2,747,000 in shares of GOEV during the first quarter. In the first quarter, GROUP ONE TRADING, L.P. acquired a new stake in Canoo Inc. valued at approximately $123,000. SIMPLICITY SOLUTIONS, LLC acquired a new stake in GOEV for approximately $45,000. WOLVERINE TRADING, LLC purchased a new stake in GOEV valued at around $22,000 in the second quarter. In total, there are 225 active investors with 29.90% ownership of the company’s stock.
On Thursday morning Canoo Inc. (NASDAQ: GOEV) stock kicked off with the opening price of $0.6600. During the past 12 months, Canoo Inc. has had a low of $0.50 and a high of $5.00. As of last week, the company has a debt-to-equity ratio of 0.15, a current ratio of 0.20, and a quick ratio of 0.20. The fifty day moving average price for GOEV is $0.6516 and a two-hundred day moving average price translates $1.4590 for the stock.
The latest earnings results from Canoo Inc. (NASDAQ: GOEV) was released for Mar, 2023. According to the Auto Manufacturers Company, earnings per share came in at -$0.22, missing analysts’ expectations of -$0.19 by -0.03. This compares to -$0.54 EPS in the same period last year. The company reported revenue of $81.53 million for the quarter, compared to $140.79 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -42.09 percent. For the current quarter, analysts expect GOEV to generate $1.67M 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 that directly houses the critical components for operation of an EV. Canoo Inc. was founded in 2017 and is headquartered in Torrance, California.
