Canoo Inc. (NASDAQ:GOEV) Receives Average Rating of “Moderate Buy” from Brokerages

Canoo Inc. (NASDAQ:GOEVGet Free Report) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.79.

GOEV has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Canoo in a research note on Wednesday, May 15th. Roth Mkm cut their price target on Canoo from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of Canoo in a research note on Wednesday, May 22nd. Alliance Global Partners cut their price target on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, R. F. Lafferty downgraded Canoo from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th.

Get Our Latest Stock Analysis on Canoo

Canoo Stock Down 3.8 %

Shares of NASDAQ:GOEV opened at $2.04 on Friday. The firm has a market capitalization of $139.88 million, a price-to-earnings ratio of -0.19 and a beta of 1.28. The stock’s 50 day moving average is $2.59 and its 200-day moving average is $3.76. Canoo has a twelve month low of $1.22 and a twelve month high of $19.50.

Canoo (NASDAQ:GOEVGet Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($2.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same quarter last year, the firm earned ($3.91) earnings per share. Equities research analysts anticipate that Canoo will post -4.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its holdings in Canoo by 95.6% during the 1st quarter. SG Americas Securities LLC now owns 22,065 shares of the company’s stock valued at $79,000 after buying an additional 10,786 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in Canoo by 36.9% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after buying an additional 47,000 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Canoo during the 3rd quarter valued at about $72,000. Swiss National Bank grew its holdings in Canoo by 20.5% during the 3rd quarter. Swiss National Bank now owns 935,200 shares of the company’s stock valued at $458,000 after buying an additional 159,400 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Canoo during the 1st quarter valued at about $900,000. Hedge funds and other institutional investors own 36.23% of the company’s stock.

Canoo Company Profile

(Get Free Report

Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.

Further Reading

Analyst Recommendations for Canoo (NASDAQ:GOEV)

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