Canoo Inc. (NASDAQ:GOEV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Canoo Inc. (NASDAQ:GOEVGet Free Report) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.79.

GOEV has been the subject of a number of research analyst reports. Roth Mkm decreased their target price on Canoo from $4.00 to $3.00 and set a “neutral” rating for the company 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 research report on Wednesday, May 22nd. 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 report on Friday, March 15th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Canoo in a research report on Wednesday, May 15th. Finally, R. F. Lafferty cut Canoo from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th.

Read Our Latest Stock Analysis on Canoo

Institutional Trading of Canoo

Several hedge funds have recently modified their holdings of GOEV. Kestra Private Wealth Services LLC lifted its holdings in shares of Canoo by 36.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after buying an additional 47,000 shares during the period. Swiss National Bank lifted its holdings in shares of Canoo by 20.5% in the 3rd 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 period. Kestra Advisory Services LLC acquired a new stake in shares of Canoo in the 3rd quarter valued at approximately $72,000. EP Wealth Advisors LLC purchased a new position in Canoo in the 3rd quarter valued at approximately $133,000. Finally, SG Americas Securities LLC increased its stake in Canoo by 95.6% in the 1st 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 in the last quarter. 36.23% of the stock is owned by institutional investors and hedge funds.

Canoo Stock Performance

GOEV opened at $2.18 on Friday. Canoo has a one year low of $1.22 and a one year high of $19.50. The company has a market cap of $149.48 million, a P/E ratio of -0.21 and a beta of 1.28. The business’s 50-day simple moving average is $2.53 and its 200-day simple moving average is $3.61.

Canoo (NASDAQ:GOEVGet Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same quarter in the previous year, the business earned ($3.91) earnings per share. As a group, analysts predict that Canoo will post -4.37 earnings per share for the current fiscal year.

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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Analyst Recommendations for Canoo (NASDAQ:GOEV)

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