Canoo (NASDAQ:GOEV) Trading Down 16% – Here’s Why

Canoo Inc. (NASDAQ:GOEV)’s share price traded down 16% on Monday . The company traded as low as $0.35 and last traded at $0.34. 6,238,102 shares were traded during trading, an increase of 93% from the average session volume of 3,229,590 shares. The stock had previously closed at $0.41.

Canoo Trading Down 16.0%

The company’s fifty day moving average is $0.34 and its 200 day moving average is $1.89. The company has a market capitalization of $1.66 million, a P/E ratio of 0.00 and a beta of 1.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOEV. National Bank of Canada FI boosted its holdings in Canoo by 609.8% in the 4th quarter. National Bank of Canada FI now owns 37,653 shares of the company’s stock worth $53,000 after buying an additional 45,039 shares during the period. Two Sigma Investments LP bought a new position in Canoo in the 4th quarter worth approximately $69,000. Finally, Jane Street Group LLC boosted its holdings in Canoo by 51.4% in the 4th quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock worth $238,000 after buying an additional 57,347 shares during the period. 36.23% of the stock is owned by institutional investors.

About Canoo

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.