Headlands Technologies LLC Makes New $60,000 Investment in Canoo Inc. (NASDAQ:GOEV)

Headlands Technologies LLC purchased a new stake in shares of Canoo Inc. (NASDAQ:GOEV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,207 shares of the company’s stock, valued at approximately $60,000.

Other large investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new stake in Canoo during the 1st quarter valued at about $900,000. EP Wealth Advisors LLC increased its position in shares of Canoo by 269.3% during the fourth quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock valued at $257,000 after acquiring an additional 729,236 shares in the last quarter. SG Americas Securities LLC raised its holdings in Canoo by 95.6% in the 1st quarter. SG Americas Securities LLC now owns 22,065 shares of the company’s stock worth $79,000 after acquiring an additional 10,786 shares during the last quarter. MBL Wealth LLC bought a new position in Canoo in the 2nd quarter valued at approximately $31,000. Finally, CIBC Asset Management Inc purchased a new stake in Canoo during the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 36.23% of the company’s stock.

Canoo Price Performance

Shares of Canoo stock opened at $1.03 on Tuesday. Canoo Inc. has a 1-year low of $1.00 and a 1-year high of $11.65. The company’s fifty day simple moving average is $1.76 and its 200-day simple moving average is $2.23. The stock has a market capitalization of $70.62 million, a PE ratio of -0.10 and a beta of 1.29.

Canoo (NASDAQ:GOEV) last released its earnings results on Wednesday, August 14th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.68. The firm had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $1.99 million. As a group, research analysts anticipate that Canoo Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. HC Wainwright lowered their price target on Canoo from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Benchmark restated a “buy” rating and set a $5.00 target price on shares of Canoo in a research note on Wednesday, May 22nd. Finally, Roth Mkm reduced their price target on shares of Canoo from $3.00 to $1.50 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.04.

Insider Buying and Selling at Canoo

In other Canoo news, General Counsel Hector M. Ruiz sold 10,937 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total transaction of $25,483.21. Following the completion of the transaction, the general counsel now owns 181,513 shares of the company’s stock, valued at approximately $422,925.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Ramesh Murthy sold 10,948 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $2.33, for a total transaction of $25,508.84. Following the transaction, the chief accounting officer now owns 181,447 shares of the company’s stock, valued at approximately $422,771.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Hector M. Ruiz sold 10,937 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total transaction of $25,483.21. Following the transaction, the general counsel now owns 181,513 shares in the company, valued at approximately $422,925.29. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

Canoo Company Profile

Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.