Canoo (NASDAQ:GOEV) Trading 14.1% Higher

Canoo Inc. (NASDAQ:GOEV)’s stock price was up 14.1% on Tuesday . The company traded as high as $3.30 and last traded at $2.83. Approximately 7,405,847 shares changed hands during trading, a decline of 2% from the average daily volume of 7,585,319 shares. The stock had previously closed at $2.48.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wedbush began coverage on shares of Canoo in a research note on Friday, January 5th. They issued an “outperform” rating and a $92.00 price objective for the company. Alliance Global Partners dropped 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. Finally, Stifel Nicolaus dropped 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.

Canoo Stock Up 19.0 %

The company has a market cap of $189.98 million, a price-to-earnings ratio of -0.21 and a beta of 1.23. The company’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $4.99.

Institutional Trading of Canoo

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Canoo by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 26,036,884 shares of the company’s stock valued at $6,697,000 after acquiring an additional 904,907 shares in the last quarter. BlackRock Inc. grew its stake in Canoo by 49.1% during the first quarter. BlackRock Inc. now owns 18,750,337 shares of the company’s stock worth $12,236,000 after buying an additional 6,178,847 shares in the last quarter. State Street Corp grew its stake in Canoo by 122.7% during the first quarter. State Street Corp now owns 6,342,854 shares of the company’s stock worth $4,139,000 after buying an additional 3,494,923 shares in the last quarter. Geode Capital Management LLC grew its stake in Canoo by 57.7% during the first quarter. Geode Capital Management LLC now owns 6,297,765 shares of the company’s stock worth $4,110,000 after buying an additional 2,303,981 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Canoo during the first quarter worth about $2,780,000. Institutional investors own 36.23% of the company’s stock.

About Canoo

Canoo Inc, a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an EV.