Canoo (NASDAQ:GOEV) Trading Down 3.7%

Shares of Canoo Inc. (NASDAQ:GOEV - Get Free Report) traded down 3.7% during trading on Friday . The company traded as low as $2.83 and last traded at $2.89. 1,511,306 shares were traded during mid-day trading, a decline of 80% from the average session volume of 7,643,142 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wedbush assumed coverage on shares of Canoo in a research note on Friday, January 5th. They issued an "outperform" rating and a $92.00 target price for the company. Alliance Global Partners lowered their target price 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. Stifel Nicolaus lowered their target price on shares of Canoo from $34.50 to $17.25 and set a "buy" rating for the company in a research note on Tuesday, January 23rd. Finally, Benchmark assumed coverage on shares of Canoo in a research note on Wednesday. They issued a "buy" rating for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $49.19.

Canoo Trading Down 5.0 %

The company has a market capitalization of $183.54 million, a PE ratio of -0.21 and a beta of 1.23. The business's 50-day simple moving average is $2.74 and its 200-day simple moving average is $4.85.

Hedge Funds Weigh In On Canoo

A number of institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new position in shares of Canoo during the 1st quarter valued at approximately $67,000. Hsbc Holdings PLC purchased a new position in shares of Canoo during the 1st quarter valued at approximately $95,000. XTX Topco Ltd purchased a new position in shares of Canoo during the 1st quarter valued at approximately $93,000. Commonwealth Equity Services LLC purchased a new position in shares of Canoo during the 3rd quarter valued at approximately $32,000. Finally, Principal Financial Group Inc. increased its holdings 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 valued at $33,000 after purchasing an additional 4,448 shares in the last quarter. 36.23% of the stock is owned by hedge funds and other institutional investors.

Canoo Company Profile

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.