Canoo Inc. (NASDAQ:GOEV) Receives $23.79 Consensus Target Price from Analysts

Canoo Inc. (NASDAQ:GOEV) has earned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.79.

GOEV has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $5.00 target price on shares of Canoo in a report on Wednesday, May 22nd. 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. R. F. Lafferty lowered shares of Canoo from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Roth Mkm reduced their price target on shares of Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 15th.

Canoo Trading Down 3.7 %

Shares of NASDAQ:GOEV opened at $1.80 on Monday. Canoo has a 12-month low of $1.22 and a 12-month high of $15.96. The firm has a market cap of $123.42 million, a PE ratio of -0.17 and a beta of 1.28. The company has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $2.67.

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

Insider Activity

In related news, CAO Ramesh Murthy sold 10,948 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total value of $25,508.84. Following the sale, the chief accounting officer now owns 181,447 shares of the company’s stock, valued at approximately $422,771.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, 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 value of $25,483.21. Following the completion of the transaction, the general counsel now owns 181,513 shares of the company’s stock, valued at $422,925.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ramesh Murthy sold 10,948 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total value of $25,508.84. Following the transaction, the chief accounting officer now directly owns 181,447 shares in the company, valued at $422,771.51. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Canoo

Institutional investors and hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC boosted 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 acquiring an additional 729,236 shares in the last quarter. SG Americas Securities LLC increased its position in shares of 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 purchasing an additional 10,786 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Canoo during the 1st quarter valued at $900,000. Curbstone Financial Management Corp acquired a new stake in shares of Canoo in the second quarter valued at $43,000. Finally, MBL Wealth LLC bought a new position in Canoo during the second quarter valued at about $31,000. 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.