Canoo Inc. (NYSE:GOEV – Get Free Report)’s share price traded down 19% during trading on Tuesday . The stock traded as low as $3.22 and last traded at $3.40. 8,188,311 shares were traded during mid-day trading, an increase of 6% from the average session volume of 7,744,179 shares. The stock had previously closed at $4.20.
Analysts Set New Price Targets
GOEV has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price objective on shares of Canoo from $34.50 to $17.25 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Wedbush initiated coverage on shares of Canoo in a research report on Friday, January 5th. They issued an “outperform” rating and a $92.00 price target for the company. Finally, Alliance Global Partners dropped their price objective on Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a report on Friday, March 15th.
View Our Latest Analysis on GOEV
Canoo Price Performance
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in Canoo by 32.9% in the 2nd quarter. Principal Financial Group Inc. now owns 17,951 shares of the company’s stock valued at $33,000 after purchasing an additional 4,448 shares in the last quarter. Rhumbline Advisers boosted its position in Canoo by 4.6% during the second quarter. Rhumbline Advisers now owns 126,937 shares of the company’s stock worth $235,000 after purchasing an additional 5,592 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in Canoo by 23.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 40,363 shares of the company’s stock valued at $223,000 after acquiring an additional 7,544 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Canoo by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 386,691 shares of the company’s stock valued at $2,135,000 after purchasing an additional 8,479 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Canoo by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 116,606 shares of the company’s stock valued at $216,000 after buying an additional 11,746 shares during the last quarter. 36.23% of the stock is currently owned by institutional investors and hedge funds.
Canoo Company Profile
Canoo Inc, a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an EV.
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