Roth Mkm Trims Canoo (NASDAQ:GOEV) Target Price to $3.00

Canoo (NASDAQ:GOEVFree Report) had its price objective lowered by Roth Mkm from $4.00 to $3.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on GOEV. Benchmark reiterated a buy rating and issued a $5.00 target price on shares of Canoo in a report on Wednesday. Stifel Nicolaus reduced their price objective on shares of Canoo from $34.50 to $17.25 and set a buy rating for the company in a report on Tuesday, January 23rd. Alliance Global Partners decreased their target price on shares of Canoo from $20.00 to $18.50 and set a buy rating for the company in a research report on Friday, March 15th. HC Wainwright reiterated a buy rating and set a $7.00 price target on shares of Canoo in a research note on Wednesday. Finally, R. F. Lafferty cut Canoo from a buy rating to a hold rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $23.79.

Get Our Latest Report on GOEV

Canoo Trading Down 3.1 %

GOEV opened at $2.78 on Wednesday. The company has a fifty day moving average price of $2.77 and a two-hundred day moving average price of $4.15. Canoo has a 1-year low of $1.22 and a 1-year high of $19.50. The company has a market cap of $179.03 million, a P/E ratio of -0.27 and a beta of 1.26.

Canoo (NASDAQ:GOEVGet Free Report) last issued its earnings results on Tuesday, May 14th. The company reported ($2.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same quarter last year, the company earned ($3.91) earnings per share. On average, research analysts forecast that Canoo will post -3.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Canoo

Several institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC grew its stake in shares of Canoo by 269.3% during the 4th quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock worth $257,000 after acquiring an additional 729,236 shares during the period. Swiss National Bank increased its stake in shares of Canoo by 20.5% in the third quarter. Swiss National Bank now owns 935,200 shares of the company’s stock worth $458,000 after purchasing an additional 159,400 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Canoo in the first quarter valued at approximately $900,000. Kestra Private Wealth Services LLC lifted its stake in shares of Canoo by 36.9% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after buying an additional 47,000 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Canoo in the 3rd quarter worth approximately $72,000. Hedge funds and other institutional investors own 36.23% of the company’s stock.

Canoo Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Canoo (NASDAQ:GOEV)

Receive News & Ratings for Canoo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canoo and related companies with MarketBeat.com's FREE daily email newsletter.