Canoo (NASDAQ:GOEV) Trading Up 0.3%

Canoo Inc. (NASDAQ:GOEV)’s stock price rose 0.3% on Wednesday . The stock traded as high as $3.49 and last traded at $2.94. Approximately 6,294,327 shares were traded during trading, a decline of 18% from the average daily volume of 7,703,346 shares. The stock had previously closed at $2.93.

Wall Street Analysts Forecast Growth

GOEV has been the subject of several recent analyst reports. Benchmark initiated coverage on Canoo in a research note on Wednesday. They set a “buy” rating for the company. Wedbush initiated coverage on Canoo in a research note on Friday, January 5th. They set an “outperform” rating and a $92.00 target price for the company. Alliance Global Partners decreased their target price on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Stifel Nicolaus decreased their target price on Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Five analysts have rated the stock with a buy rating, According to MarketBeat, Canoo has an average rating of “Buy” and a consensus price target of $49.19.

Canoo Trading Up 2.7 %

The stock has a fifty day moving average of $2.76 and a two-hundred day moving average of $4.90. The stock has a market capitalization of $198.35 million, a price-to-earnings ratio of -0.22 and a beta of 1.23.

Institutional Investors Weigh In On Canoo

A number of institutional investors have recently made changes to their positions in GOEV. Vanguard Group Inc. lifted its holdings in Canoo by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 26,036,884 shares of the company’s stock worth $6,697,000 after acquiring an additional 904,907 shares in the last quarter. BlackRock Inc. boosted its position in Canoo by 49.1% during the first quarter. BlackRock Inc. now owns 18,750,337 shares of the company’s stock valued at $12,236,000 after purchasing an additional 6,178,847 shares during the last quarter. State Street Corp boosted its position in Canoo by 122.7% during the first quarter. State Street Corp now owns 6,342,854 shares of the company’s stock valued at $4,139,000 after purchasing an additional 3,494,923 shares during the last quarter. Geode Capital Management LLC boosted its position in Canoo by 57.7% during the first quarter. Geode Capital Management LLC now owns 6,297,765 shares of the company’s stock valued at $4,110,000 after purchasing an additional 2,303,981 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Canoo in the first quarter valued at approximately $2,780,000. 36.23% of the stock is owned by institutional investors and hedge funds.

Canoo Company Profile

Canoo Inc, a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an EV.