Brokerages Set Canoo Inc. (NASDAQ:GOEV) PT at $108.10

Canoo Inc. (NASDAQ:GOEV) has received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $108.10.

Several brokerages have weighed in on GOEV. HC Wainwright lowered their target price on shares of Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Stifel Nicolaus cut shares of Canoo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $4.50 to $0.50 in a research report on Tuesday, December 31st. Finally, Alliance Global Partners reissued a “neutral” rating on shares of Canoo in a research report on Monday, January 6th.

Canoo Price Performance

Shares of GOEV stock opened at $0.34 on Tuesday. The company has a market capitalization of $1.66 million, a PE ratio of 0.00 and a beta of 1.30. The firm’s 50-day moving average is $0.61 and its two-hundred day moving average is $9.66. Canoo has a 12 month low of $0.32 and a 12 month high of $102.07.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOEV. Two Sigma Investments LP acquired a new position in Canoo during the 4th quarter worth $69,000. Jane Street Group LLC lifted its stake in Canoo by 51.4% in the fourth quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock worth $238,000 after acquiring an additional 57,347 shares during the last quarter. National Bank of Canada FI grew its holdings in Canoo by 609.8% during the 4th 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Canoo in the 3rd quarter valued at approximately $280,000. Finally, Geode Capital Management LLC raised its holdings in shares of Canoo by 25.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,679,627 shares of the company’s stock valued at $1,652,000 after purchasing an additional 341,897 shares in the last quarter. Institutional investors and hedge funds own 36.23% of the company’s stock.

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.