Canoo (NASDAQ:GOEV) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Canoo (NASDAQ:GOEV) from a buy rating to a hold rating in a report released on Tuesday morning, MarketBeat.com reports. They currently have $0.50 price objective on the stock, down from their prior price objective of $4.50.

Separately, HC Wainwright reduced their target price on Canoo from $80.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Canoo has an average rating of “Moderate Buy” and an average target price of $396.75.

Canoo Price Performance

GOEV stock opened at $1.33 on Tuesday. Canoo has a 1-year low of $1.24 and a 1-year high of $141.68. The business has a 50 day simple moving average of $7.24 and a two-hundred day simple moving average of $22.95. The company has a market capitalization of $6.44 million, a price-to-earnings ratio of -0.38 and a beta of 1.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd boosted its position in shares of Canoo by 191.7% during the third quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock valued at $31,000 after buying an additional 20,805 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Canoo during the 2nd quarter worth $35,000. Point72 DIFC Ltd purchased a new stake in Canoo in the second quarter worth about $37,000. Headlands Technologies LLC purchased a new position in Canoo during the 2nd quarter valued at about $60,000. Finally, CIBC Asset Management Inc bought a new position in shares of Canoo during the second quarter valued at approximately $67,000. 36.23% of the stock is owned by hedge funds and other 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.