Alliance Global Partners Reiterates Neutral Rating for Canoo (NASDAQ:GOEV)

Canoo (NASDAQ:GOEV)‘s stock had its “neutral” rating reiterated by analysts at Alliance Global Partners in a note issued to investors on Monday,Benzinga reports.

GOEV has been the topic of several other reports. Stifel Nicolaus cut shares of Canoo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $4.50 to $0.50 in a research note on Tuesday, December 31st. HC Wainwright lowered their target price on shares of Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canoo currently has a consensus rating of “Hold” and an average target price of $108.10.

Canoo Stock Up 1.5 %

NASDAQ GOEV opened at $1.35 on Monday. Canoo has a fifty-two week low of $1.24 and a fifty-two week high of $141.68. The business has a fifty day moving average of $6.91 and a 200-day moving average of $22.50. The stock has a market cap of $6.53 million, a price-to-earnings ratio of -0.38 and a beta of 1.14.

Hedge Funds Weigh In On Canoo

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of Canoo during the 2nd quarter worth $35,000. Point72 DIFC Ltd acquired a new stake in Canoo during the second quarter worth about $37,000. Headlands Technologies LLC acquired a new position in shares of Canoo in the 2nd quarter valued at about $60,000. CIBC Asset Management Inc acquired a new stake in Canoo during the 2nd quarter worth approximately $67,000. Finally, XTX Topco Ltd raised its holdings in Canoo by 191.7% in the third quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock valued at $31,000 after buying an additional 20,805 shares during the period. Hedge funds and other institutional investors own 36.23% 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.