Canoo (NASDAQ:GOEV) Stock Price Down 0.3%

Canoo Inc. (NASDAQ:GOEV - Get Free Report)'s stock price fell 0.3% during trading on Wednesday . The company traded as low as $3.09 and last traded at $3.16. 897,163 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 7,512,656 shares. The stock had previously closed at $3.17.

Analyst Ratings Changes

A number of brokerages have commented on GOEV. Stifel Nicolaus dropped their price objective on shares of Canoo from $34.50 to $17.25 and set a "buy" rating on the stock in a research report on Tuesday, January 23rd. Alliance Global Partners dropped their price objective on shares of Canoo from $20.00 to $18.50 and set a "buy" rating on the stock in a research report on Friday, March 15th. Benchmark began coverage on shares of Canoo in a research report on Wednesday, April 17th. They issued a "buy" rating on the stock. Finally, Wedbush began coverage on shares of Canoo in a research report on Friday, January 5th. They issued an "outperform" rating and a $92.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $49.19.

Canoo Stock Performance

The stock's 50-day moving average is $2.73 and its 200 day moving average is $4.67. The stock has a market capitalization of $186.76 million, a PE ratio of -0.22 and a beta of 1.23.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Swiss National Bank grew its position in Canoo by 20.5% during the 3rd quarter. Swiss National Bank now owns 935,200 shares of the company's stock worth $458,000 after purchasing an additional 159,400 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Canoo during the 3rd quarter worth $72,000. EP Wealth Advisors LLC grew its position in Canoo by 269.3% during the 4th quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company's stock worth $257,000 after purchasing an additional 729,236 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in Canoo by 36.9% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company's stock worth $85,000 after purchasing an additional 47,000 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its position in Canoo by 114.5% during 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 during 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.