Canoo’s (GOEV) Neutral Rating Reaffirmed at Alliance Global Partners

Canoo (NASDAQ:GOEV)‘s stock had its “neutral” rating reiterated by stock analysts at Alliance Global Partners in a research report issued to clients and investors on Monday, Marketbeat.com reports.

Other research analysts have also issued research reports about the company. Stifel Nicolaus lowered Canoo from a “buy” rating to a “hold” rating and lowered their price target for the company from $4.50 to $0.50 in a research report on Tuesday, December 31st. HC Wainwright decreased their target price on Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $108.10.

Canoo Stock Up 5.5 %

Shares of Canoo stock opened at $1.34 on Monday. The company’s fifty day simple moving average is $6.24 and its two-hundred day simple moving average is $21.99. Canoo has a 12-month low of $1.24 and a 12-month high of $141.68. The firm has a market cap of $6.48 million, a PE ratio of -0.38 and a beta of 1.30.

Institutional Investors Weigh In On Canoo

Hedge funds have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Canoo by 2.8% during the 3rd quarter. State Street Corp now owns 2,309,656 shares of the company’s stock valued at $2,272,000 after buying an additional 63,652 shares in the last quarter. Geode Capital Management LLC lifted its position in Canoo by 25.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,679,627 shares of the company’s stock valued at $1,652,000 after acquiring an additional 341,897 shares during the period. Virtu Financial LLC bought a new stake in Canoo during the third quarter worth about $280,000. Bank of New York Mellon Corp purchased a new stake in Canoo in the second quarter worth about $392,000. Finally, EP Wealth Advisors LLC increased its stake in shares of Canoo by 74.9% during the second quarter. EP Wealth Advisors LLC now owns 121,739 shares of the company’s stock valued at $259,000 after purchasing an additional 52,131 shares in the last quarter. 36.23% of the stock is currently owned by institutional investors.

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.