Canoo Inc. (NASDAQ:GOEV) Receives Average Recommendation of “Hold” from Analysts

Shares of Canoo Inc. (NASDAQ:GOEV) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $42.63.

A number of equities analysts recently commented on the stock. Stifel Nicolaus cut shares of Canoo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $4.50 to $0.50 in a research note on Tuesday, December 31st. Alliance Global Partners reaffirmed a “neutral” rating on shares of Canoo in a research note on Monday, January 6th.

Canoo Stock Down 16.0 %

NASDAQ GOEV opened at $0.34 on Friday. Canoo has a 52 week low of $0.32 and a 52 week high of $69.80. The firm has a market capitalization of $1.66 million, a price-to-earnings ratio of 0.00 and a beta of 1.30. The company has a fifty day moving average of $0.35 and a two-hundred day moving average of $6.56.

Institutional Trading of Canoo

A number of large investors have recently modified their holdings of the company. State Street Corp grew its position 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 worth $2,272,000 after buying an additional 63,652 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Canoo by 191.7% in the 3rd quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock valued at $31,000 after purchasing an additional 20,805 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Canoo by 25.6% during the third quarter. Geode Capital Management LLC now owns 1,679,627 shares of the company’s stock valued at $1,652,000 after purchasing an additional 341,897 shares in the last quarter. Virtu Financial LLC bought a new position in Canoo in the third quarter worth approximately $280,000. Finally, National Bank of Canada FI boosted its position in Canoo by 609.8% during the 4th quarter. National Bank of Canada FI now owns 37,653 shares of the company’s stock valued at $53,000 after acquiring an additional 45,039 shares in the last quarter. Hedge funds and other institutional investors own 36.23% 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.