In yesterday’s Wall Street session, Canoo Inc (NASDAQ:GOEV) shares traded at $0.36, up 20.66% 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 $3.00 and a low of $0.30, we find $1.50. Given the previous closing price of $0.30, this indicates a potential upside of 400.0 percent. GOEV stock price is now 0.84% away from the 50-day moving average and -36.01% away from the 200-day moving average. The market capitalization of the company currently stands at $264.23M.
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 $1.61 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, MURTHY RAMESH, SVP and CAO sold 1,001 shares of the company’s stock on Nov 07. The stock was sold for $260 at an average price of $0.26. Upon completion of the transaction, the SVP and CAO now directly owns 282,618 shares in the company, valued at $0.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 02, GENERAL COUNSEL, CORP SECY Ruiz Hector M. sold 2,814 shares of the business’s stock. A total of $1,379 was realized by selling the stock at an average price of $0.49. This leaves the insider owning 285,456 shares of the company worth $0.1 million. Insiders disposed of 94,020 shares of company stock worth roughly $33847.2 over the past 1 year. A total of 18.51% of the company’s stock is owned by insiders.
Monday morning saw Canoo Inc (NASDAQ: GOEV) opened at $0.3200. During the past 12 months, Canoo Inc has had a low of $0.22 and a high of $1.49. As of last week, the company has a debt-to-equity ratio of 0.86, a current ratio of 0.17, and a quick ratio of 0.14. The fifty day moving average price for GOEV is $0.3608 and a two-hundred day moving average price translates $0.5685 for the stock.
The latest earnings results from Canoo Inc (NASDAQ: GOEV) was released for Sep, 2023. According to the Auto Manufacturers Company, earnings per share came in at -$0.06, beating analysts’ expectations of -$0.12 by 0.06. This compares to -$0.43 EPS in the same period last year. The net profit margin was -68170.71% and return on equity was -179.81% for GOEV. For the current quarter, analysts expect GOEV to generate $870k 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.