Canoo (NASDAQ:GOEV) Releases Earnings Results, Misses Estimates By $1.23 EPS

Canoo (NASDAQ:GOEV - Get Free Report) announced its earnings results on Tuesday. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($1.23), Zacks reports. During the same quarter last year, the company posted ($3.91) EPS.

Canoo Trading Down 5.0 %

Canoo stock traded down $0.14 during mid-day trading on Wednesday, hitting $2.65. The company had a trading volume of 6,225,929 shares, compared to its average volume of 6,865,317. Canoo has a 12 month low of $1.22 and a 12 month high of $19.50. The company has a market capitalization of $170.66 million, a PE ratio of -0.20 and a beta of 1.26. The stock's 50 day moving average price is $2.75 and its two-hundred day moving average price is $4.20.

Analysts Set New Price Targets

Several research firms have weighed in on GOEV. Benchmark reiterated a "buy" rating and issued a $5.00 price objective on shares of Canoo in a report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $7.00 price target on shares of Canoo in a research note on Wednesday. Stifel Nicolaus lowered their price objective on shares of Canoo from $34.50 to $17.25 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Roth Mkm reduced their target price on Canoo from $4.00 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, R. F. Lafferty cut Canoo from a "buy" rating to a "hold" rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $23.79.

Canoo Company Profile

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.