The stock of Canoo Inc. (NASDAQ:GOEV) last traded at $0.64, up 21.88% from the previous session.
Data from the available sources indicates that Canoo Inc. (NASDAQ:GOEV) is covered by 5 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $0.50, we find $1.55. Given the previous closing price of $0.53, this indicates a potential upside of 192.45 percent. GOEV stock price is now 16.45% away from the 50-day moving average and -21.49% away from the 200-day moving average. The market capitalization of the company currently stands at $393.96M.
In total, 1 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $3.11 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).
In other news, Sheeran Josette, President sold 25,052 shares of the company’s stock on Aug 21. The stock was sold for $10,772 at an average price of $0.43. Upon completion of the transaction, the President now directly owns 1,336,459 shares in the company, valued at $0.86 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 21, SVP and CAO MURTHY RAMESH sold 577 shares of the business’s stock. A total of $248 was realized by selling the stock at an average price of $0.43. This leaves the insider owning 283,326 shares of the company worth $0.18 million. Insiders disposed of 107,838 shares of company stock worth roughly $69016.32 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 $10,781,000. MILLENNIUM MANAGEMENT LLC invested $2,603,000 in shares of GOEV during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Canoo Inc. valued at approximately $2,582,000. AXA S.A. acquired a new stake in GOEV for approximately $618,000. HRT FINANCIAL LP purchased a new stake in GOEV valued at around $589,000 in the second quarter.
With an opening price of $0.5300 on Monday morning, Canoo Inc. (NASDAQ: GOEV) set off the trading day. During the past 12 months, Canoo Inc. has had a low of $0.41 and a high of $3.78. As of last week, the company has a debt-to-equity ratio of 0.24, a current ratio of 0.10, and a quick ratio of 0.10. The fifty day moving average price for GOEV is $0.5527 and a two-hundred day moving average price translates $0.8170 for the stock.
The latest earnings results from Canoo Inc. (NASDAQ: GOEV) was released for Jun, 2023. According to the Auto Manufacturers Company, earnings per share came in at -$0.14, beating analysts’ expectations of -$0.19 by 0.05. This compares to -$0.68 EPS in the same period last year. The company reported revenue of $73.56 million for the quarter, compared to $173.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -57.6 percent. For the current quarter, analysts expect GOEV to generate $770k in revenue.
