Canoo Inc. (NASDAQ:GOEV) Given Average Recommendation of “Hold” by Analysts

Canoo Inc. (NASDAQ:GOEV) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.63.

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

Institutional Investors Weigh In On Canoo

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Canoo during the 3rd quarter worth approximately $280,000. State Street Corp increased its position in Canoo by 2.8% in the third 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 during the period. XTX Topco Ltd lifted its stake in Canoo by 191.7% in 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 last quarter. Two Sigma Investments LP acquired a new position in shares of Canoo during the fourth quarter valued at $69,000. Finally, Jane Street Group LLC grew its position in shares of Canoo by 51.4% during the fourth quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock worth $238,000 after acquiring an additional 57,347 shares during the last quarter. Institutional investors and hedge funds own 36.23% of the company’s stock.

Canoo Price Performance

Shares of GOEV stock opened at $0.34 on Friday. The firm has a fifty day moving average of $0.34 and a two-hundred day moving average of $5.60. The firm has a market cap of $1.66 million, a P/E ratio of 0.00 and a beta of 1.30. Canoo has a 1-year low of $0.32 and a 1-year high of $69.80.

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.