Shares of Canoo Inc. (NASDAQ:GOEV – Get Free Report) have been given a consensus recommendation of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $108.10.
A number of research analysts recently commented on the company. Stifel Nicolaus cut Canoo from a “buy” rating to a “hold” rating and reduced their target price for the company from $4.50 to $0.50 in a research note on Tuesday, December 31st. Alliance Global Partners reissued a “neutral” rating on shares of Canoo in a report on Monday, January 6th. Finally, HC Wainwright cut their target price on Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 15th.
Check Out Our Latest Stock Analysis on GOEV
Canoo Price Performance
Institutional Trading of Canoo
A number of institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in Canoo during the 2nd quarter valued at approximately $37,000. Bank of New York Mellon Corp purchased a new position in shares of Canoo during the second quarter valued at approximately $392,000. Rhumbline Advisers purchased a new position in shares of Canoo during the second quarter valued at approximately $153,000. EP Wealth Advisors LLC lifted its stake in Canoo by 74.9% in the second quarter. EP Wealth Advisors LLC now owns 121,739 shares of the company’s stock worth $259,000 after acquiring an additional 52,131 shares during the period. Finally, Virtu Financial LLC bought a new stake in Canoo in the third quarter valued at $280,000. 36.23% of the stock is currently owned by hedge funds and other 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.
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