Canoo Inc. (NASDAQ:GOEV) Receives $42.63 Average PT from Analysts

Canoo Inc. (NASDAQ:GOEV) has been given a consensus recommendation of “Hold” by the six analysts that are currently covering the stock, Marketbeat.com 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 1-year price target among brokers that have issued ratings on the stock in the last year is $42.63.

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

Canoo Trading Down 16.0 %

NASDAQ:GOEV opened at $0.34 on Friday. Canoo has a 12-month low of $0.32 and a 12-month high of $69.80. The firm has a market cap of $1.66 million, a PE ratio of 0.00 and a beta of 1.30. The stock has a fifty day moving average price of $0.34 and a 200 day moving average price of $6.21.

Hedge Funds Weigh In On Canoo

A number of large investors have recently bought and sold shares of GOEV. XTX Topco Ltd increased its position in 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 purchasing an additional 20,805 shares during the period. National Bank of Canada FI grew its position in shares of Canoo by 609.8% in 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 during the last quarter. Two Sigma Investments LP purchased a new position in Canoo during the fourth quarter worth $69,000. Jane Street Group LLC increased its position in Canoo by 51.4% during the 4th quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock worth $238,000 after purchasing an additional 57,347 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Canoo in the third quarter valued at approximately $280,000. Hedge funds and other institutional investors own 36.23% of the company’s stock.

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.