In yesterday’s Wall Street session, Canoo Inc (NASDAQ:GOEV) shares traded at $0.33, up 3.20% from the previous session.
5 analysts cover Canoo Inc (NASDAQ:GOEV), according to research data. 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 $0.32, this indicates a potential upside of 368.75 percent. GOEV stock price is now -4.25% away from the 50-day moving average and -40.00% away from the 200-day moving average. The market capitalization of the company currently stands at $241.06M.
The stock has received a hold rating from 1 analysts and a buy rating from 4. 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, Sheeran Josette, President sold 22,484 shares of the company’s stock on Nov 20. The stock was sold for $7,195 at an average price of $0.32. Upon completion of the transaction, the President now directly owns 1,313,975 shares in the company, valued at $0.43 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 20, SVP and CAO MURTHY RAMESH sold 527 shares of the business’s stock. A total of $169 was realized by selling the stock at an average price of $0.32. This leaves the insider owning 282,091 shares of the company worth $93090.03. Insiders disposed of 77,642 shares of company stock worth roughly $25621.86 over the past 1 year. A total of 18.42% of the company’s stock is owned by insiders.
On Monday morning Canoo Inc (NASDAQ: GOEV) stock kicked off with the opening price of $0.3135. 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 $0.3466 and a two-hundred day moving average price translates $0.5532 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 $830k 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.
