Canoo Inc. (NASDAQ:GOEV – Get Free Report) has received an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.04.
Several analysts have recently weighed in on GOEV shares. Roth Mkm decreased their target price on Canoo from $3.00 to $1.50 and set a “neutral” rating for the company in a research report on Thursday, August 15th. HC Wainwright cut their price objective on shares of Canoo from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th.
View Our Latest Research Report on Canoo
Insider Activity
Institutional Trading of Canoo
A number of hedge funds have recently modified their holdings of the stock. MBL Wealth LLC acquired a new position in shares of Canoo in the 2nd quarter valued at $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Canoo in the 2nd quarter worth $35,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Canoo in the second quarter valued at about $35,000. Point72 DIFC Ltd acquired a new position in shares of Canoo during the 2nd quarter worth about $37,000. Finally, Curbstone Financial Management Corp purchased a new position in Canoo in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 36.23% of the company’s stock.
Canoo Stock Performance
GOEV opened at $1.05 on Tuesday. The stock has a market capitalization of $72.00 million, a price-to-earnings ratio of -0.10 and a beta of 1.29. The company has a fifty day moving average of $1.70 and a 200 day moving average of $2.21. Canoo has a fifty-two week low of $1.00 and a fifty-two week high of $11.65.
Canoo (NASDAQ:GOEV – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.68. The company had revenue of $0.61 million during the quarter, compared to the consensus estimate of $1.99 million. On average, equities research analysts forecast that Canoo will post -3.72 earnings per share for the current year.
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.
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