Canoo (NASDAQ:GOEV) Trading Down 0.3%

Canoo Inc. (NASDAQ:GOEV) dropped 0.3% on Wednesday . The stock traded as low as $3.09 and last traded at $3.16. Approximately 897,163 shares were traded 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.

Analysts Set New Price Targets

A number of brokerages have commented on GOEV. Stifel Nicolaus cut 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. Wedbush began coverage on shares of Canoo in a research note on Friday, January 5th. They set an “outperform” rating and a $92.00 price target for the company. Benchmark began coverage on shares of Canoo in a research note on Wednesday, April 17th. They set a “buy” rating for the company. Finally, Alliance Global Partners cut 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Canoo currently has a consensus rating of “Buy” and an average price target of $49.19.

Canoo Stock Up 4.8 %

The business’s 50 day moving average price is $2.72 and its 200-day moving average price is $4.66.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Canoo by 20.5% in the third quarter. Swiss National Bank now owns 935,200 shares of the company’s stock valued at $458,000 after purchasing an additional 159,400 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Canoo in the third quarter valued at approximately $72,000. EP Wealth Advisors LLC increased its holdings in shares of Canoo by 269.3% in the fourth quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock valued at $257,000 after purchasing an additional 729,236 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of 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 purchasing an additional 47,000 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its holdings in shares of 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 purchasing an additional 41,100 shares in the last quarter. Institutional investors own 36.23% of the company’s stock.

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.