Canoo Inc. (NASDAQ:GOEV) Receives Average Recommendation of “Hold” from Brokerages

Canoo Inc. (NASDAQ:GOEVGet Free Report) has received a consensus rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $42.63.

Several research firms recently issued reports on GOEV. Alliance Global Partners restated a “neutral” rating on shares of Canoo in a research report on Monday, January 6th. Stifel Nicolaus lowered Canoo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $4.50 to $0.50 in a research report on Tuesday, December 31st.

Get Our Latest Report on GOEV

Canoo Trading Down 16.0 %

Shares of Canoo stock opened at $0.34 on Tuesday. The firm has a market capitalization of $1.66 million, a PE ratio of 0.00 and a beta of 1.30. The business’s 50-day moving average price is $0.57 and its 200-day moving average price is $9.25. Canoo has a 12 month low of $0.32 and a 12 month high of $102.07.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd raised its stake in Canoo by 191.7% during 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 last quarter. National Bank of Canada FI raised its stake in Canoo by 609.8% during the fourth quarter. National Bank of Canada FI now owns 37,653 shares of the company’s stock valued at $53,000 after buying an additional 45,039 shares during the last quarter. Two Sigma Investments LP purchased a new position in Canoo during the fourth quarter valued at $69,000. Jane Street Group LLC raised its stake in Canoo by 51.4% during the fourth quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock valued at $238,000 after buying an additional 57,347 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Canoo during the third quarter valued at $280,000. Hedge funds and other institutional investors own 36.23% of the company’s stock.

Canoo Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Canoo (NASDAQ:GOEV)

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