Canoo Inc. (NASDAQ:GOEV) Receives $108.10 Average Target Price from Brokerages

Canoo Inc. (NASDAQ:GOEV) has been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $42.63.

A number of equities research analysts have recently issued reports on GOEV shares. Alliance Global Partners reissued a “neutral” rating on shares of Canoo in a report on Monday, January 6th. Stifel Nicolaus lowered shares of Canoo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $4.50 to $0.50 in a report on Tuesday, December 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its position in Canoo by 2.8% during the third quarter. State Street Corp now owns 2,309,656 shares of the company’s stock valued at $2,272,000 after purchasing an additional 63,652 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Canoo by 191.7% during the 3rd quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock worth $31,000 after acquiring an additional 20,805 shares during the last quarter. Geode Capital Management LLC grew its position in Canoo by 25.6% in the third quarter. Geode Capital Management LLC now owns 1,679,627 shares of the company’s stock worth $1,652,000 after acquiring an additional 341,897 shares in the last quarter. Virtu Financial LLC bought a new position in Canoo in the third quarter valued at $280,000. Finally, National Bank of Canada FI raised its position in Canoo by 609.8% during the fourth quarter. National Bank of Canada FI now owns 37,653 shares of the company’s stock valued at $53,000 after purchasing an additional 45,039 shares in the last quarter. Hedge funds and other institutional investors own 36.23% of the company’s stock.

Canoo Stock Performance

NASDAQ:GOEV opened at $0.34 on Tuesday. The business’s fifty day moving average is $0.55 and its 200 day moving average is $8.91. The firm has a market cap of $1.66 million, a price-to-earnings ratio of 0.00 and a beta of 1.30. Canoo has a 52-week low of $0.32 and a 52-week high of $96.18.

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.