Canoo Inc. (NASDAQ:GOEV - Get Free Report) traded down 6.8% during mid-day trading on Thursday . The company traded as low as $2.21 and last traded at $2.21. 966,287 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 7,730,300 shares. The stock had previously closed at $2.37.
Analyst Ratings Changes
A number of brokerages have commented on GOEV. Alliance Global Partners dropped their price objective on shares of Canoo from $20.00 to $18.50 and set a "buy" rating for the company in a research note on Friday, March 15th. Wedbush initiated coverage on shares of Canoo in a research report on Friday, January 5th. They issued an "outperform" rating and a $92.00 price objective for the company. Finally, 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 research report on Tuesday, January 23rd.
View Our Latest Analysis on GOEV
Canoo Stock Performance
The firm has a market cap of $95.19 million, a P/E ratio of -0.17 and a beta of 1.23. The firm's fifty day moving average price is $2.90 and its 200 day moving average price is $5.21.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV raised its stake in shares of Canoo by 745.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 117,540 shares of the company's stock worth $30,000 after acquiring an additional 103,630 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Canoo during the 3rd quarter worth approximately $32,000. Principal Financial Group Inc. raised its stake in shares of Canoo by 32.9% during the 2nd quarter. Principal Financial Group Inc. now owns 17,951 shares of the company's stock worth $33,000 after acquiring an additional 4,448 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Canoo by 306.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 132,779 shares of the company's stock worth $34,000 after acquiring an additional 100,079 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Canoo by 1,133.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 27,745 shares of the company's stock worth $34,000 after acquiring an additional 25,495 shares in the last quarter. Institutional investors own 36.23% of the company's stock.
Canoo Company Profile
(
Get Free Report)
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.
Recommended Stories
Before you consider Canoo, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canoo wasn't on the list.
While Canoo currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
