Roth Mkm Cuts Canoo (NASDAQ:GOEV) Price Target to $3.00

Canoo (NASDAQ:GOEV - Free Report) had its target price decreased by Roth Mkm from $4.00 to $3.00 in a research report released on Wednesday morning, Benzinga reports. Roth Mkm currently has a neutral rating on the stock.

GOEV has been the topic of a number of other research reports. R. F. Lafferty lowered Canoo from a buy rating to a hold rating in a research report on Wednesday. Alliance Global Partners lowered their price target on Canoo from $20.00 to $18.50 and set a buy rating on the stock in a research report on Friday, March 15th. HC Wainwright restated a buy rating and issued a $7.00 price objective on shares of Canoo in a research report on Wednesday. Stifel Nicolaus decreased their target price on Canoo from $34.50 to $17.25 and set a buy rating on the stock in a research report on Tuesday, January 23rd. Finally, Benchmark reissued a buy rating and issued a $5.00 price target on shares of Canoo in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $23.79.

Canoo Stock Performance

NASDAQ:GOEV traded down $0.14 during mid-day trading on Wednesday, hitting $2.65. 6,225,929 shares of the company's stock traded hands, compared to its average volume of 6,865,317. Canoo has a twelve month low of $1.22 and a twelve month high of $19.50. The company has a fifty day moving average of $2.74 and a 200 day moving average of $4.21. The company has a market capitalization of $170.66 million, a P/E ratio of -0.19 and a beta of 1.26.

Canoo (NASDAQ:GOEV - Get Free Report) last issued 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 period in the prior year, the firm posted ($3.91) earnings per share. On average, research analysts expect that Canoo will post -3.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Canoo

Hedge funds and other institutional investors have recently modified their holdings of the business. Arete Wealth Advisors LLC lifted its stake in Canoo by 114.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 77,000 shares of the company's stock worth $38,000 after purchasing an additional 41,100 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Canoo in the third quarter valued at approximately $72,000. SG Americas Securities LLC lifted its position in Canoo by 95.6% during the first quarter. SG Americas Securities LLC now owns 22,065 shares of the company's stock worth $79,000 after buying an additional 10,786 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Canoo by 36.9% during the third quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company's stock worth $85,000 after buying an additional 47,000 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Canoo during the third quarter worth $133,000. 36.23% of the stock is owned by hedge funds and other institutional investors.

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.