Brokerages Set Canoo Inc. (NASDAQ:GOEV) PT at $22.71

Canoo Inc. (NASDAQ:GOEV) has been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $454.17.

Separately, HC Wainwright lowered their price objective on Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, November 15th.

Canoo Trading Down 0.6 %

NASDAQ:GOEV opened at $1.54 on Thursday. The firm has a fifty day simple moving average of $8.65 and a 200-day simple moving average of $23.91. The company has a market capitalization of $7.45 million, a P/E ratio of -0.44 and a beta of 1.14. Canoo has a 12 month low of $1.37 and a 12 month high of $141.68.

Institutional Trading of Canoo

Institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd lifted its stake in Canoo by 191.7% during the third quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock worth $31,000 after purchasing an additional 20,805 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Canoo during the 2nd quarter worth about $35,000. Point72 DIFC Ltd purchased a new position in Canoo during the 2nd quarter valued at about $37,000. Headlands Technologies LLC acquired a new position in Canoo in the 2nd quarter valued at about $60,000. Finally, CIBC Asset Management Inc acquired a new position in Canoo in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 36.23% of the company’s stock.

Canoo Company Profile

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.