Canoo (NASDAQ:GOEV) Given New $2.00 Price Target at HC Wainwright

Canoo (NASDAQ:GOEV) had its price target lowered by HC Wainwright from $4.00 to $2.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Roth Mkm decreased their price target on shares of Canoo from $3.00 to $1.50 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.71.

Canoo Price Performance

Shares of GOEV opened at $0.50 on Friday. The firm has a market capitalization of $41.17 million, a PE ratio of -0.14 and a beta of 1.29. The company’s 50-day moving average is $0.89 and its 200-day moving average is $1.65. Canoo has a fifty-two week low of $0.37 and a fifty-two week high of $8.81.

Hedge Funds Weigh In On Canoo

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in shares of Canoo by 95.6% in the first quarter. SG Americas Securities LLC now owns 22,065 shares of the company’s stock valued at $79,000 after acquiring an additional 10,786 shares in the last quarter. MBL Wealth LLC acquired a new stake in Canoo during the second quarter worth about $31,000. The Manufacturers Life Insurance Company acquired a new stake in Canoo during the second quarter worth about $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Canoo during the second quarter worth about $35,000. Finally, Point72 DIFC Ltd acquired a new stake in Canoo during the second quarter worth about $37,000. 36.23% of the stock is currently owned by institutional investors and hedge funds.

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.