Canoo Inc. (NASDAQ:GOEV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Canoo Inc. (NASDAQ:GOEV) has received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $22.71.

Several research analysts have recently commented on the company. HC Wainwright reduced their price target on Canoo from $4.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Roth Mkm decreased their target price on shares of Canoo from $3.00 to $1.50 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GOEV. MBL Wealth LLC purchased a new stake in shares of Canoo in the 2nd quarter valued at approximately $31,000. Point72 DIFC Ltd purchased a new stake in Canoo in the second quarter valued at approximately $37,000. Headlands Technologies LLC acquired a new position in Canoo during the second quarter worth $60,000. CIBC Asset Management Inc purchased a new position in shares of Canoo during the second quarter worth $67,000. Finally, Bank of New York Mellon Corp acquired a new position in Canoo during the 2nd quarter worth about $392,000. Institutional investors and hedge funds own 36.23% of the company’s stock.

Canoo Stock Performance

NASDAQ:GOEV opened at $0.38 on Friday. The stock has a 50 day moving average price of $0.75 and a 200 day moving average price of $1.51. The stock has a market cap of $37.07 million, a PE ratio of -0.11 and a beta of 1.29. Canoo has a one year low of $0.36 and a one year high of $7.49.

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.