HC Wainwright Lowers Canoo (NASDAQ:GOEV) Price Target to $2.00

Canoo (NASDAQ:GOEV) had its price objective lowered by HC Wainwright from $4.00 to $2.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Roth Mkm dropped their target price on Canoo from $3.00 to $1.50 and set a “neutral” rating for the company in a report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Canoo has an average rating of “Moderate Buy” and an average price target of $22.71.

Canoo Trading Down 3.4 %

GOEV stock opened at $0.49 on Friday. The company’s 50 day moving average is $0.88 and its 200 day moving average is $1.63. The stock has a market cap of $39.76 million, a price-to-earnings ratio of -0.14 and a beta of 1.29. Canoo has a 1-year low of $0.37 and a 1-year high of $8.81.

Institutional Trading of Canoo

Several institutional investors and hedge funds have recently bought and sold shares of GOEV. Geode Capital Management LLC lifted its stake in shares of Canoo by 25.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,679,627 shares of the company’s stock valued at $1,652,000 after purchasing an additional 341,897 shares during the period. Bank of New York Mellon Corp purchased a new position in Canoo during the second quarter valued at $392,000. Rhumbline Advisers bought a new stake in shares of Canoo during the 2nd quarter valued at $153,000. State Street Corp grew its position in shares of Canoo by 2.8% in the 3rd quarter. State Street Corp now owns 2,309,656 shares of the company’s stock worth $2,272,000 after buying an additional 63,652 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in shares of Canoo by 74.9% in the 2nd 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 in the last quarter. 36.23% of the stock is currently owned by hedge funds and other institutional investors.

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.