Canoo Inc. (NASDAQ:GOEV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Canoo Inc. (NASDAQ:GOEV) have earned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, 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 brokerages that have issued ratings on the stock in the last year is $22.71.

Separately, HC Wainwright cut their price objective on Canoo from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, November 15th.

Canoo Stock Performance

Shares of Canoo stock opened at $1.47 on Thursday. The stock has a market cap of $7.11 million, a P/E ratio of -0.42 and a beta of 1.14. The stock’s fifty day moving average is $0.52 and its 200 day moving average is $1.24. Canoo has a one year low of $1.37 and a one year high of $141.68.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new stake in shares of Canoo during the second quarter valued at approximately $35,000. Point72 DIFC Ltd purchased a new stake in Canoo in the 2nd quarter worth $37,000. Headlands Technologies LLC bought a new stake in shares of Canoo in the second quarter worth about $60,000. CIBC Asset Management Inc bought a new position in Canoo during the second quarter valued at approximately $67,000. Finally, XTX Topco Ltd raised its holdings in shares of 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 acquiring an additional 20,805 shares in the last quarter. 36.23% of the stock is owned by hedge funds and other institutional investors.

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.