Canoo Inc. (NASDAQ:GOEV) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Canoo Inc. (NASDAQ:GOEV) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.04.

A number of research firms have weighed in on GOEV. Roth Mkm lowered their price target on Canoo from $3.00 to $1.50 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. HC Wainwright decreased their price objective on Canoo from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th.

Insider Buying and Selling at Canoo

In other news, CAO Ramesh Murthy sold 10,948 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $2.33, for a total value of $25,508.84. Following the completion of the sale, the chief accounting officer now owns 181,447 shares of the company’s stock, valued at approximately $422,771.51. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Ramesh Murthy sold 10,948 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total value of $25,508.84. Following the transaction, the chief accounting officer now owns 181,447 shares in the company, valued at $422,771.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Hector M. Ruiz sold 10,937 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total transaction of $25,483.21. Following the sale, the general counsel now owns 181,513 shares of the company’s stock, valued at $422,925.29. The disclosure for this sale can be found here. Insiders sold a total of 30,082 shares of company stock worth $59,599 over the last three months. Company insiders own 9.70% of the company’s stock.

Institutional Trading of Canoo

Several large investors have recently modified their holdings of GOEV. MBL Wealth LLC purchased a new stake in Canoo in the 2nd quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Canoo in the second quarter worth $35,000. The Manufacturers Life Insurance Company bought a new stake in Canoo in the second quarter valued at $35,000. Point72 DIFC Ltd purchased a new position in Canoo during the 2nd quarter valued at $37,000. Finally, Curbstone Financial Management Corp bought a new position in Canoo in the 2nd quarter worth $43,000. 36.23% of the stock is owned by institutional investors.

Canoo Price Performance

Shares of GOEV opened at $1.01 on Tuesday. Canoo has a 1-year low of $1.00 and a 1-year high of $11.65. The company has a market capitalization of $69.25 million, a P/E ratio of -0.10 and a beta of 1.29. The firm’s 50 day simple moving average is $1.65 and its 200 day simple moving average is $2.19.

Canoo (NASDAQ:GOEV) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.68. The company had revenue of $0.61 million during the quarter, compared to the consensus estimate of $1.99 million. On average, equities analysts anticipate that Canoo will post -3.72 earnings per share for the current year.

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.