Canoo (NASDAQ:GOEV) Given “Buy” Rating at HC Wainwright

Canoo (NASDAQ:GOEVGet Free Report)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $7.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 168.20% from the company’s previous close.

Several other brokerages have also recently commented on GOEV. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Canoo in a report on Wednesday. Alliance Global Partners decreased their target price on 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 dropped their price target on shares of Canoo from $34.50 to $17.25 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Finally, R. F. Lafferty lowered shares of Canoo from a “buy” rating to a “hold” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.79.

Check Out Our Latest Stock Report on Canoo

Canoo Price Performance

Shares of NASDAQ GOEV traded down $0.18 during midday trading on Wednesday, hitting $2.61. 4,232,007 shares of the company’s stock were exchanged, compared to its average volume of 6,842,861. Canoo has a twelve month low of $1.22 and a twelve month high of $19.50. The firm has a market cap of $168.08 million, a P/E ratio of -0.19 and a beta of 1.26. The stock’s 50 day moving average price is $2.74 and its 200-day moving average price is $4.21.

Canoo (NASDAQ:GOEVGet Free Report) last issued its quarterly earnings results on Monday, April 1st. The company reported ($0.93) EPS for the quarter. The firm had revenue of $0.37 million during the quarter. On average, analysts expect that Canoo will post -3.71 EPS for the current fiscal year.

Institutional Trading of Canoo

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in Canoo by 95.6% during the 1st 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. Arete Wealth Advisors LLC boosted its position in Canoo by 114.5% during 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 during the last quarter. Kestra Advisory Services LLC purchased a new position in Canoo in the third quarter valued at about $72,000. Kestra Private Wealth Services LLC increased its position in Canoo by 36.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock worth $85,000 after purchasing an additional 47,000 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Canoo during the 1st quarter worth about $900,000. Institutional investors and hedge funds own 36.23% of the company’s stock.

Canoo Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Canoo (NASDAQ:GOEV)

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