Canoo Inc. (NASDAQ:GOEV) Given Consensus Rating of “Hold” by Analysts

Shares of Canoo Inc. (NASDAQ:GOEV) have earned an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $108.10.

GOEV has been the subject of a number of research analyst reports. Alliance Global Partners reissued a “neutral” rating on shares of Canoo in a research report on Monday, January 6th. HC Wainwright reduced their price target on shares of Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Stifel Nicolaus lowered shares of Canoo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $4.50 to $0.50 in a research report on Tuesday, December 31st.

Canoo Trading Down 16.0 %

GOEV stock opened at $0.34 on Friday. Canoo has a one year low of $0.32 and a one year high of $102.07. The firm has a market capitalization of $1.66 million, a PE ratio of 0.00 and a beta of 1.30. The firm has a 50-day moving average of $1.39 and a two-hundred day moving average of $14.11.

Hedge Funds Weigh In On Canoo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOEV. The Manufacturers Life Insurance Company bought a new position in Canoo during the second quarter valued at approximately $35,000. State Street Corp raised 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 acquiring an additional 63,652 shares in the last quarter. XTX Topco Ltd raised its position in 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 acquiring an additional 20,805 shares in the last quarter. Geode Capital Management LLC raised its position in 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 acquiring an additional 341,897 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Canoo during the third quarter valued at approximately $280,000. 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.