Analysts Set Canoo Inc. (NASDAQ:GOEV) PT at $22.71

Canoo Inc. (NASDAQ:GOEV) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $22.71.

GOEV has been the topic of a number of recent analyst reports. HC Wainwright dropped their price target on shares of Canoo from $4.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Roth Mkm dropped their target price on shares of Canoo from $3.00 to $1.50 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Canoo Price Performance

Shares of NASDAQ GOEV opened at $0.36 on Friday. The business’s 50-day simple moving average is $0.74 and its 200-day simple moving average is $1.47. Canoo has a 52 week low of $0.33 and a 52 week high of $7.08.

Institutional Trading of Canoo

A number of hedge funds have recently bought and sold shares of GOEV. MBL Wealth LLC acquired a new stake in Canoo in the 2nd quarter worth $31,000. The Manufacturers Life Insurance Company acquired a new stake in Canoo in the 2nd quarter worth $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Canoo in the 2nd quarter worth $35,000. Point72 DIFC Ltd acquired a new stake in Canoo in the 2nd quarter worth $37,000. Finally, XTX Topco Ltd grew its position in Canoo by 191.7% in the 3rd quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock worth $31,000 after purchasing an additional 20,805 shares during the last quarter. 36.23% of the stock is owned by institutional investors.

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.