Canoo Inc. (NASDAQ:GOEV) General Counsel Hector M. Ruiz Sells 10,937 Shares

Canoo Inc. (NASDAQ:GOEV) General Counsel Hector M. Ruiz sold 10,937 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $2.33, for a total transaction of $25,483.21. Following the completion of the transaction, the general counsel now directly owns 181,513 shares in the company, valued at approximately $422,925.29. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Canoo Stock Performance

GOEV stock traded down $0.11 during midday trading on Friday, reaching $2.12. The company’s stock had a trading volume of 2,303,448 shares, compared to its average volume of 6,209,144. The firm has a market capitalization of $145.37 million, a price-to-earnings ratio of -0.20 and a beta of 1.28. Canoo Inc. has a 1 year low of $1.22 and a 1 year high of $19.50. The stock has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $3.15.

Canoo (NASDAQ:GOEV) last announced its earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($1.23). During the same quarter last year, the company earned ($3.91) earnings per share. As a group, analysts forecast that Canoo Inc. will post -4.37 EPS for the current fiscal year.

Institutional Trading of Canoo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Curbstone Financial Management Corp acquired a new stake in shares of Canoo during the 2nd quarter valued at about $43,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Canoo during the 1st quarter worth about $900,000. SG Americas Securities LLC raised its position in 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 purchasing an additional 10,786 shares during the period. Finally, EP Wealth Advisors LLC boosted its stake 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 during the period. 36.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOEV has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of Canoo in a report on Wednesday, May 22nd. R. F. Lafferty downgraded Canoo from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Roth Mkm dropped their price target on Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Canoo in a research note on Wednesday, May 15th. Finally, Alliance Global Partners decreased their price target on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research note on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.79.

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.