Canoo Inc. (NASDAQ:GOEV - Get Free Report) shares shot up 8% during trading on Thursday . The company traded as high as $3.23 and last traded at $3.09. 3,265,238 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 7,691,249 shares. The stock had previously closed at $2.86.
Analyst Upgrades and Downgrades
Several research firms have issued reports on GOEV. Alliance Global Partners cut 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. Benchmark started coverage on shares of Canoo in a research report on Wednesday. They set a "buy" rating for the company. Stifel Nicolaus cut 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, Wedbush assumed coverage on Canoo in a research report on Friday, January 5th. They set an "outperform" rating and a $92.00 price target for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Canoo presently has an average rating of "Buy" and an average price target of $49.19.
View Our Latest Stock Analysis on Canoo
Canoo Trading Up 4.9 %
The stock's fifty day simple moving average is $2.76 and its 200-day simple moving average is $4.90. The company has a market capitalization of $193.20 million, a price-to-earnings ratio of -0.22 and a beta of 1.23.
Institutional Trading of Canoo
A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Canoo by 3.6% during the 4th 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. raised its position in shares of Canoo by 49.1% during the 1st quarter. BlackRock Inc. now owns 18,750,337 shares of the company's stock worth $12,236,000 after acquiring an additional 6,178,847 shares in the last quarter. State Street Corp raised its position in shares of Canoo by 122.7% during the 1st quarter. State Street Corp now owns 6,342,854 shares of the company's stock worth $4,139,000 after acquiring an additional 3,494,923 shares in the last quarter. Geode Capital Management LLC lifted its stake in Canoo by 57.7% during the first quarter. Geode Capital Management LLC now owns 6,297,765 shares of the company's stock worth $4,110,000 after purchasing an additional 2,303,981 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Canoo in the first quarter valued at approximately $2,780,000. 36.23% of the stock is currently owned by hedge funds and other institutional investors.
About Canoo
(
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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.
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