S&P 500   5,061.82
DOW   37,735.11
QQQ   431.06
5 Small-Cap Energy Stocks Surged in Price and Volume on Friday
Novo Nordisk Arms Wegovy to Be a Triple Threat
Vital Farms Rides the Pasture-Raised Egg Trend to the Bank
3 Energy Plays for Cash Flow: Buy 1 or Buy Them All
M&T Bank, Goldman Sachs rise; Salesforce, Tesla fall, Monday, 4/15/2024
When Will the Next Bull Market Be?
Global smartphone shipments climb nearly 8% in 1st quarter as Samsung retakes the lead
S&P 500   5,061.82
DOW   37,735.11
QQQ   431.06
5 Small-Cap Energy Stocks Surged in Price and Volume on Friday
Novo Nordisk Arms Wegovy to Be a Triple Threat
Vital Farms Rides the Pasture-Raised Egg Trend to the Bank
3 Energy Plays for Cash Flow: Buy 1 or Buy Them All
M&T Bank, Goldman Sachs rise; Salesforce, Tesla fall, Monday, 4/15/2024
When Will the Next Bull Market Be?
Global smartphone shipments climb nearly 8% in 1st quarter as Samsung retakes the lead
S&P 500   5,061.82
DOW   37,735.11
QQQ   431.06
5 Small-Cap Energy Stocks Surged in Price and Volume on Friday
Novo Nordisk Arms Wegovy to Be a Triple Threat
Vital Farms Rides the Pasture-Raised Egg Trend to the Bank
3 Energy Plays for Cash Flow: Buy 1 or Buy Them All
M&T Bank, Goldman Sachs rise; Salesforce, Tesla fall, Monday, 4/15/2024
When Will the Next Bull Market Be?
Global smartphone shipments climb nearly 8% in 1st quarter as Samsung retakes the lead
S&P 500   5,061.82
DOW   37,735.11
QQQ   431.06
5 Small-Cap Energy Stocks Surged in Price and Volume on Friday
Novo Nordisk Arms Wegovy to Be a Triple Threat
Vital Farms Rides the Pasture-Raised Egg Trend to the Bank
3 Energy Plays for Cash Flow: Buy 1 or Buy Them All
M&T Bank, Goldman Sachs rise; Salesforce, Tesla fall, Monday, 4/15/2024
When Will the Next Bull Market Be?
Global smartphone shipments climb nearly 8% in 1st quarter as Samsung retakes the lead
NASDAQ:GOEV

Canoo (GOEV) Stock Price, News & Analysis

$2.48
+0.08 (+3.33%)
(As of 04/15/2024 ET)
Today's Range
$2.21
$2.56
50-Day Range
$1.31
$4.34
52-Week Range
$1.22
$19.50
Volume
4.01 million shs
Average Volume
7.64 million shs
Market Capitalization
$159.71 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$49.19

Canoo MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
1,883.4% Upside
$49.19 Price Target
Short Interest
Bearish
19.35% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.40mentions of Canoo in the last 14 days
Based on 10 Articles This Week
Insider Trading
Selling Shares
$215 Sold Last Quarter
Proj. Earnings Growth
Growing
From ($3.09) to ($2.53) Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.87 out of 5 stars

Auto/Tires/Trucks Sector

62nd out of 82 stocks

Motor Vehicle Parts & Accessories Industry

26th out of 33 stocks

GOEV stock logo

About Canoo Stock (NASDAQ:GOEV)

Canoo Inc., formerly Hennessy Capital Acquisition Corp. IV, is an American electric vehicle (EV) manufacturer headquartered in Torrance, California. The company was founded in 2017 by a group of former BMW and Deutsche Bank executives who aimed to create a new EV company. Canoo Inc.'s unique selling point is its flexible skateboard platform, which can be used for various vehicle types, including sedans, delivery vans, and mobile food trucks. The company strongly focuses on sustainable mobility and aims to provide affordable, accessible, and environmentally-friendly transportation options.

Canoo Inc.s management team is led by Chief Executive Officer Tony Aquila, a technology industry veteran who previously served as CEO of Solera Holdings, a software and data provider for the insurance industry. Other key team members include Sohel Merchant, who previously worked for Tesla and Ford. 

Canoo Inc. is a relatively new company and has yet to generate significant revenue. The company has been reporting losses yearly since its inception in 2020. Canoo Inc. raised $300 million in its initial public offering (IPO) in December 2020; however, since then, Canoo Inc. has utilized all of its IPO monies and an additional $470 million in negative cash flow. Canoo Inc.'s valuation metrics are difficult to compare to industry peers due to the company's early stage of development and lack of revenue. The company's market capitalization is approximately $250 million. Canoo Inc.'s stock price has fluctuated significantly since its IPO, reaching a high of $20.28 in February 2021 before falling to a low of $0.54. The stock price has remained volatile. Canoo Inc.'s stock performance has been mixed since the company went public in December 2020. The stock price initially surged on news of the company's merger with Hennessy Capital Acquisition Corp. IV, reaching a high of $20.28 in February 2021. However, the stock price declined sharply in the following months, falling to a low of $0.54 in Q1 2023. 

Canoo Inc. operates in the highly competitive EV industry, which is rapidly evolving and subject to various regulatory and political pressures. The global EV market is expected to grow significantly in the coming years, driven by government incentives and a growing awareness of the environmental benefits of EVs. However, the industry is also subject to significant challenges, including the high cost of EV batteries and the need for charging infrastructure in many parts of the world. Canoo Inc.'s flexible skateboard platform and focus on affordable EVs could give it a competitive edge in this crowded market.

Canoo Inc. has several potential growth opportunities, including launching its first EV models and expanding its skateboard platform into new markets. The company has also announced plans to develop a subscription-based business model for its EVs. This could appeal to consumers who want the flexibility to switch vehicles without committing to a long-term purchase or lease. Additionally, Canoo Inc. has partnered with Hyundai Motor Group to co-develop EV platforms and technologies, which could provide the company with access to additional resources and expertise.

As with any company operating in a rapidly-evolving industry, Canoo Inc. faces various potential risks and challenges. One major challenge is the high cost of EV batteries, making it difficult for companies to achieve profitability. Canoo Inc. must manage its production costs carefully to remain competitive. Additionally, the company may face regulatory or political pressures, particularly in the United States, where the government has recently announced plans to increase funding for EVs and charging infrastructure. Canoo Inc. may face stiff competition from other established and emerging players in the EV market, including Tesla, General Motors, and Rivian.

GOEV Stock Price History

GOEV Stock News Headlines

MarketBeat Week in Review – 4/1 - 4/5 (GOEV)
Equities lost ground this week as investors consider the effect of fewer rate cuts, rising oil prices, and robust job gains ahead of a new earnings season
Tesla Stock Drops on Weak Delivery Numbers and it May Fall More (GOEV)
Tesla stock dropped nearly 6% after the company reported lighter-than-expected delivery numbers, further fueling concerns about the stock's valuation
Elon Musk’s ChatGPT Could Soon Mint New Millionaires
Elon Musk made $180 million on PayPal… $47 Billion on SpaceX…and $94.2 Billion on Tesla. He’s about to shock the world again with his version of ChatGPT.
Canoo, Inc. Bites the Dust: Mullen Automotive Is a Better Bet
Canoo, Inc. NASDAQ: GOEV analysts were bullish on the stock ahead of the Q4 earnings report, but that situation will likely change. The company issued a going concern notice that raises serious doubt about the company's ability to continue, and the danger is real.
Canoo (NASDAQ:GOEV) Shares Down 7.5%
Latest News for Canoo Stock (NASDAQ:GOEV)
Elon Musk’s ChatGPT Could Soon Mint New Millionaires
Elon Musk made $180 million on PayPal… $47 Billion on SpaceX…and $94.2 Billion on Tesla. He’s about to shock the world again with his version of ChatGPT.
Canoo (NASDAQ:GOEV) Stock Price Down 4.9%
Canoo to Present at LD Micro Conference April 8-9
See More Headlines
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Company Calendar

Last Earnings
11/15/2021
Today
4/15/2024
Next Earnings (Estimated)
5/20/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Motor vehicle parts & accessories
Sub-Industry
N/A
Current Symbol
NASDAQ:GOEV
Fax
N/A
Employees
812
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$49.19
High Stock Price Target
$92.00
Low Stock Price Target
$17.25
Potential Upside/Downside
+1,883.4%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
4 Analysts

Profitability

Net Income
$-302,020,000.00
Pretax Margin
-34,088.15%

Debt

Sales & Book Value

Annual Sales
$890,000.00
Book Value
$5.84 per share

Miscellaneous

Free Float
58,150,000
Market Cap
$159.71 million
Optionable
Optionable
Beta
1.23
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Key Executives

  • Mr. Anthony AquilaMr. Anthony Aquila (Age 59)
    Executive Chairman & CEO
    Comp: $500k
  • Mr. Ramesh Murthy (Age 45)
    Senior VP of Finance & Chief Accounting Officer
    Comp: $350k
  • Mr. Sohel Merchant
    Founder & CTO
  • Mr. Hector Ruiz (Age 43)
    General Counsel & Corporate Secretary
  • Agnes Gomes-Koizumi
    Vice President of Communications
  • Mr. Kunal Bhalla
    Senior Vice President of Corporate Development, Capital Markets & Purchasing
  • Mr. Michael Carter
    Chief People Officer
  • Mr. Richard Kim
    Chief Design Officer

GOEV Stock Analysis - Frequently Asked Questions

Should I buy or sell Canoo stock right now?

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Canoo in the last twelve months. There are currently 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" GOEV shares.
View GOEV analyst ratings
or view top-rated stocks.

What is Canoo's stock price target for 2024?

4 analysts have issued 1-year target prices for Canoo's shares. Their GOEV share price targets range from $17.25 to $92.00. On average, they predict the company's stock price to reach $49.19 in the next twelve months. This suggests a possible upside of 1,883.4% from the stock's current price.
View analysts price targets for GOEV
or view top-rated stocks among Wall Street analysts.

How have GOEV shares performed in 2024?

Canoo's stock was trading at $5.9156 on January 1st, 2024. Since then, GOEV shares have decreased by 58.1% and is now trading at $2.48.
View the best growth stocks for 2024 here
.

Are investors shorting Canoo?

Canoo saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 11,050,000 shares, an increase of 11.8% from the March 15th total of 9,880,000 shares. Based on an average daily volume of 8,210,000 shares, the short-interest ratio is presently 1.3 days. Currently, 19.4% of the company's stock are short sold.
View Canoo's Short Interest
.

When is Canoo's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, May 20th 2024.
View our GOEV earnings forecast
.

How were Canoo's earnings last quarter?

Canoo Inc. (NASDAQ:GOEV) posted its quarterly earnings results on Monday, November, 15th. The company reported ($8.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($10.12) by $2.07.

When did Canoo's stock split?

Canoo's stock reverse split on the morning of Friday, March 8th 2024. The 1-23 reverse split was announced on Wednesday, March 6th 2024. The number of shares owned by shareholders was adjusted after the closing bell on Thursday, March 7th 2024. An investor that had 100 shares of stock prior to the reverse split would have 4 shares after the split.

What guidance has Canoo issued on next quarter's earnings?

Canoo updated its FY 2024 earnings guidance on Monday, April, 1st. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $50.0 million-$100.0 million, compared to the consensus revenue estimate of $152.5 million.

How do I buy shares of Canoo?

Shares of GOEV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:GOEV) was last updated on 4/16/2024 by MarketBeat.com Staff

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