Canoo (GOEV) Set to Announce Quarterly Earnings on Wednesday

Canoo (NASDAQ:GOEV) is set to announce its earnings results after the market closes on Wednesday, August 14th. Analysts expect the company to announce earnings of ($0.89) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Canoo (NASDAQ:GOEV) last posted its earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same period in the prior year, the business posted ($3.91) EPS. On average, analysts expect Canoo to post $-4 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Canoo Stock Performance

GOEV stock opened at $1.55 on Tuesday. The business has a 50-day simple moving average of $2.06 and a two-hundred day simple moving average of $2.57. The company has a market capitalization of $106.28 million, a P/E ratio of -0.15 and a beta of 1.28. Canoo has a 52-week low of $1.22 and a 52-week high of $15.96.

Analyst Ratings Changes

Several research analysts recently issued reports on GOEV shares. Roth Mkm cut their target price on Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 15th. R. F. Lafferty downgraded shares of Canoo from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Canoo in a report on Wednesday, May 15th. Finally, Benchmark restated a “buy” rating and set a $5.00 price target on shares of Canoo in a report on Wednesday, May 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.79.

Insiders Place Their Bets

In other news, General Counsel Hector M. Ruiz sold 10,937 shares of Canoo 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 sale, the general counsel now directly owns 181,513 shares in the company, valued at approximately $422,925.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Ramesh Murthy sold 10,948 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $2.33, for a total value of $25,508.84. Following the transaction, the chief accounting officer now owns 181,447 shares in the company, valued at $422,771.51. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Hector M. Ruiz sold 10,937 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total value of $25,483.21. Following the transaction, the general counsel now directly owns 181,513 shares of the company’s stock, valued at $422,925.29. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.

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.