Canoo Inc. (NASDAQ:GOEV) Given Average Recommendation of “Hold” by Brokerages

Shares of Canoo Inc. (NASDAQ:GOEV) have been given an average rating of “Hold” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $108.10.

GOEV has been the topic of several recent analyst reports. Alliance Global Partners restated a “neutral” rating on shares of Canoo in a research report on Monday, January 6th. Stifel Nicolaus downgraded shares of Canoo from a “buy” rating to a “hold” rating and reduced their price target for the company from $4.50 to $0.50 in a report on Tuesday, December 31st. Finally, HC Wainwright reduced their price target on shares of Canoo from $80.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, November 15th.

Institutional Trading of Canoo

A number of large investors have recently made changes to their positions in GOEV. XTX Topco Ltd increased its holdings in shares of Canoo by 191.7% in the 3rd quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock worth $31,000 after buying an additional 20,805 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Canoo during the 2nd quarter worth about $35,000. Point72 DIFC Ltd purchased a new position in shares of Canoo during the 2nd quarter worth about $37,000. Rhumbline Advisers purchased a new position in shares of Canoo during the 2nd quarter worth about $153,000. Finally, EP Wealth Advisors LLC boosted its stake in shares of Canoo by 74.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 121,739 shares of the company’s stock worth $259,000 after purchasing an additional 52,131 shares during the period. 36.23% of the stock is currently owned by institutional investors.

Canoo Price Performance

Shares of GOEV stock opened at $0.48 on Monday. The company has a market capitalization of $2.30 million, a price-to-earnings ratio of -0.01 and a beta of 1.30. Canoo has a one year low of $0.32 and a one year high of $102.07. The company’s fifty day moving average price is $3.57 and its 200-day moving average price is $18.22.

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.