In yesterday’s Wall Street session, Canoo Inc. (NASDAQ:GOEV) shares traded at $0.52, up 4.77% from the previous session.
As of this writing, 5 analysts cover Canoo Inc. (NASDAQ:GOEV). 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 $0.50, this indicates a potential upside of 210.0 percent. GOEV stock price is now -7.86% away from the 50-day moving average and -33.85% away from the 200-day moving average. The market capitalization of the company currently stands at $353.22M.
There are 1 analysts who have given it a hold rating, whereas 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 $0.69 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 $0.15 million. Insiders disposed of 133,467 shares of company stock worth roughly $69402.84 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 $8,705,000. MILLENNIUM MANAGEMENT LLC invested $2,102,000 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 $2,085,000. AXA S.A. acquired a new stake in GOEV for approximately $499,000. HRT FINANCIAL LP purchased a new stake in GOEV valued at around $475,000 in the second quarter. In total, there are 204 active investors with 29.90% ownership of the company’s stock.
During the past 12 months, Canoo Inc. has had a low of $0.41 and a high of $2.92. 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 $0.5647 and a two-hundred day moving average price translates $0.7866 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 $610k 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.
