Analysts Expect Canoo Inc. (NYSE:GOEV) to Announce -$0.50 Earnings Per Share

Wall Street brokerages expect that Canoo Inc. (NYSE:GOEVGet Rating) will report ($0.50) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Canoo’s earnings, with estimates ranging from ($0.56) to ($0.44). Canoo posted earnings of ($0.07) per share in the same quarter last year, which would indicate a negative year over year growth rate of 614.3%. The business is scheduled to announce its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Canoo will report full year earnings of ($2.10) per share for the current year, with EPS estimates ranging from ($2.47) to ($1.70). For the next financial year, analysts expect that the firm will post earnings of ($1.48) per share, with EPS estimates ranging from ($1.98) to ($1.00). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Canoo.

Canoo (NYSE:GOEVGet Rating) last announced its quarterly earnings results on Monday, February 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.10). During the same quarter last year, the business earned ($0.66) earnings per share.

Separately, Zacks Investment Research raised Canoo from a “sell” rating to a “hold” rating in a report on Thursday, March 3rd.

In other news, major shareholder Global Holdings Ltd Dd sold 10,500,000 shares of Canoo stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $6.53, for a total transaction of $68,565,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of GOEV. BlackRock Inc. lifted its holdings in shares of Canoo by 20.5% during the third quarter. BlackRock Inc. now owns 7,518,316 shares of the company’s stock worth $57,817,000 after buying an additional 1,279,600 shares in the last quarter. Invesco Ltd. increased its position in shares of Canoo by 17.1% in the third quarter. Invesco Ltd. now owns 4,349,817 shares of the company’s stock worth $33,450,000 after purchasing an additional 636,066 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Canoo by 204.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 816,537 shares of the company’s stock worth $6,304,000 after purchasing an additional 548,375 shares during the period. Marshall Wace LLP bought a new position in shares of Canoo in the fourth quarter worth $4,091,000. Finally, Morgan Stanley increased its position in shares of Canoo by 30.1% in the third quarter. Morgan Stanley now owns 1,969,914 shares of the company’s stock worth $15,148,000 after purchasing an additional 455,772 shares during the period. 67.61% of the stock is owned by institutional investors.

Shares of Canoo stock opened at $4.80 on Wednesday. The business has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $7.08. Canoo has a 1 year low of $4.61 and a 1 year high of $13.35.

About Canoo (Get Rating)

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 design to support various range of vehicle weight and ride profiles.

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