EP Wealth Advisors LLC increased its position in Canoo Inc. (NASDAQ:GOEV – Free Report) by 74.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 121,739 shares of the company’s stock after buying an additional 52,131 shares during the quarter. EP Wealth Advisors LLC’s holdings in Canoo were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Canoo in the 1st quarter worth approximately $900,000. Bank of New York Mellon Corp purchased a new stake in Canoo in the 2nd quarter worth approximately $392,000. Rhumbline Advisers purchased a new stake in Canoo in the 2nd quarter worth approximately $153,000. Daiwa Securities Group Inc. purchased a new stake in Canoo in the 2nd quarter worth approximately $70,000. Finally, CIBC Asset Management Inc purchased a new stake in Canoo in the 2nd quarter worth approximately $67,000. 36.23% of the stock is owned by hedge funds and other institutional investors.
Canoo Price Performance
Shares of GOEV opened at $0.99 on Friday. Canoo Inc. has a 1 year low of $0.88 and a 1 year high of $10.23. The company has a 50 day simple moving average of $1.40 and a two-hundred day simple moving average of $2.14. The firm has a market cap of $67.72 million, a P/E ratio of -0.09 and a beta of 1.27.
Wall Street Analysts Forecast Growth
GOEV has been the subject of several analyst reports. Roth Mkm reduced their target price on shares of Canoo from $3.00 to $1.50 and set a “neutral” rating for the company in a 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 for the company in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Canoo currently has an average rating of “Moderate Buy” and an average target price of $23.04.
View Our Latest Stock Report on Canoo
About Canoo
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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