Canoo (NYSE:GOEV) Trading 9.8% Higher

Canoo Inc. (NYSE:GOEVGet Free Report) was up 9.8% during trading on Friday . The stock traded as high as $3.74 and last traded at $3.57. Approximately 10,708,591 shares changed hands during trading, a decline of 37% from the average daily volume of 17,129,426 shares. The stock had previously closed at $3.25.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GOEV shares. Stifel Nicolaus dropped their price target on Canoo from $34.50 to $17.25 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. 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. Finally, Alliance Global Partners reduced their target price on shares of Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a report on Friday, March 15th.

Get Our Latest Report on Canoo

Canoo Trading Up 9.8 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.14 and a current ratio of 0.17. The stock has a market capitalization of $149.05 million, a price-to-earnings ratio of -0.20 and a beta of 1.17. The business has a fifty day simple moving average of $3.13 and a 200 day simple moving average of $5.67.

Hedge Funds Weigh In On Canoo

Several institutional investors and hedge funds have recently modified their holdings of GOEV. Vanguard Group Inc. grew its position in Canoo by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 26,036,884 shares of the company’s stock worth $6,697,000 after buying an additional 904,907 shares in the last quarter. BlackRock Inc. increased its position in shares of Canoo by 49.1% in the first quarter. BlackRock Inc. now owns 18,750,337 shares of the company’s stock worth $12,236,000 after purchasing an additional 6,178,847 shares during the period. State Street Corp increased its position in shares of Canoo by 122.7% in the first quarter. State Street Corp now owns 6,342,854 shares of the company’s stock worth $4,139,000 after purchasing an additional 3,494,923 shares during the period. Geode Capital Management LLC raised its stake in Canoo by 57.7% in the first quarter. Geode Capital Management LLC now owns 6,297,765 shares of the company’s stock valued at $4,110,000 after purchasing an additional 2,303,981 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Canoo during the first quarter worth about $2,780,000. 36.23% of the stock is currently owned by institutional investors and hedge funds.

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.

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