Canoo Inc. (NASDAQ:GOEV) Receives Average Rating of “Hold” from Brokerages

Shares of Canoo Inc. (NASDAQ:GOEV) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $42.63.

Several equities research analysts have recently commented on the company. Stifel Nicolaus lowered 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 reissued a “neutral” rating on shares of Canoo in a research note on Monday, January 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd lifted its holdings in Canoo by 191.7% in the 3rd quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock worth $31,000 after buying an additional 20,805 shares in the last quarter. National Bank of Canada FI increased its position in shares of Canoo by 609.8% during the fourth quarter. National Bank of Canada FI now owns 37,653 shares of the company’s stock worth $53,000 after acquiring an additional 45,039 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Canoo in the fourth quarter worth about $69,000. Jane Street Group LLC boosted its holdings in Canoo by 51.4% in the fourth quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock valued at $238,000 after purchasing an additional 57,347 shares during the last quarter. Finally, State Street Corp grew its stake in Canoo by 2.8% during the 3rd 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 in the last quarter. 36.23% of the stock is currently owned by hedge funds and other institutional investors.

Canoo Trading Down 16.0 %

GOEV stock opened at $0.34 on Friday. The company’s 50-day moving average price is $0.34 and its 200 day moving average price is $5.60. Canoo has a 52 week low of $0.32 and a 52 week high of $69.80. The company has a market cap of $1.66 million, a P/E ratio of 0.00 and a beta of 1.30.

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.