Canoo (NASDAQ:GOEV) Trading Down 0.3%

Canoo Inc. (NASDAQ:GOEV) shares dropped 0.3% on Wednesday . The stock traded as low as $3.09 and last traded at $3.16. Approximately 897,163 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 7,512,656 shares. The stock had previously closed at $3.17.

Analyst Upgrades and Downgrades

GOEV has been the subject of several research analyst reports. Alliance Global Partners decreased their price target on shares of Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research note on Friday, March 15th. Stifel Nicolaus decreased their price target on shares of Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Benchmark initiated coverage on shares of Canoo in a report on Wednesday, April 17th. They set a “buy” rating for the company. Finally, Wedbush initiated coverage on shares of Canoo in a report on Friday, January 5th. They set an “outperform” rating and a $92.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $49.19.

Canoo Trading Up 4.8 %

The business’s fifty day moving average price is $2.72 and its 200-day moving average price is $4.66.

Canoo (NASDAQ:GOEV) last released its quarterly earnings results on Monday, April 1st. The company reported ($0.93) earnings per share for the quarter. The company had revenue of $0.37 million for the quarter. Sell-side analysts anticipate that Canoo Inc. will post -3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOEV. EP Wealth Advisors LLC boosted its holdings in Canoo by 269.3% during the fourth quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock worth $257,000 after purchasing an additional 729,236 shares during the last quarter. Swiss National Bank boosted its holdings in Canoo by 20.5% during the third quarter. Swiss National Bank now owns 935,200 shares of the company’s stock worth $458,000 after purchasing an additional 159,400 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Canoo during the third quarter worth about $72,000. Kestra Private Wealth Services LLC boosted its stake in Canoo by 36.9% in the third quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after acquiring an additional 47,000 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its stake in Canoo by 114.5% in the third quarter. Arete Wealth Advisors LLC now owns 77,000 shares of the company’s stock valued at $38,000 after acquiring an additional 41,100 shares during the last quarter. 36.23% of the stock is currently owned by hedge funds and other institutional investors.

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.