Canoo Inc. (NASDAQ:GOEV - Get Free Report) shot up 5.6% on Monday . The stock traded as high as $1.96 and last traded at $1.90. 2,288,606 shares changed hands during trading, a decline of 64% from the average session volume of 6,381,718 shares. The stock had previously closed at $1.80.
Wall Street Analyst Weigh In
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GOEV has been the subject of several recent research reports. Roth Mkm decreased their price objective on Canoo from $4.00 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, May 15th. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Canoo in a research report on Wednesday, May 15th. R. F. Lafferty cut shares of Canoo from a "buy" rating to a "hold" rating in a research report on Wednesday, May 15th. Benchmark reissued a "buy" rating and issued a $5.00 target price on shares of Canoo in a report on Wednesday, May 22nd. Finally, Alliance Global Partners cut their price target on Canoo from $20.00 to $18.50 and set a "buy" rating on the stock in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.79.
View Our Latest Research Report on Canoo
Canoo Trading Up 7.5 %
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The stock has a market capitalization of $132.68 million, a price-to-earnings ratio of -0.18 and a beta of 1.28. The company's 50 day moving average is $2.53 and its 200 day moving average is $3.54.
Canoo (NASDAQ:GOEV - Get Free Report) last posted its earnings results on Tuesday, May 14th. The company reported ($2.20) EPS for the quarter, missing analysts' consensus estimates of ($0.97) by ($1.23). During the same period last year, the business posted ($3.91) earnings per share. Analysts anticipate that Canoo Inc. will post -4.37 EPS for the current fiscal year.
Institutional Trading of Canoo
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Large investors have recently bought and sold shares of the business. Swiss National Bank raised its holdings in shares of Canoo by 20.5% in the third quarter. Swiss National Bank now owns 935,200 shares of the company's stock valued at $458,000 after buying an additional 159,400 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Canoo during the 3rd quarter worth approximately $72,000. EP Wealth Advisors LLC purchased a new position in shares of Canoo in the 3rd quarter valued at approximately $133,000. SG Americas Securities LLC increased its holdings in shares of Canoo by 95.6% in the first quarter. SG Americas Securities LLC now owns 22,065 shares of the company's stock valued at $79,000 after purchasing an additional 10,786 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Canoo during the first quarter worth approximately $900,000. Institutional investors and hedge funds own 36.23% of the company's stock.
About Canoo
(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.
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