Analysts Set Canoo Inc. (NASDAQ:GOEV) PT at $42.63

Shares of Canoo Inc. (NASDAQ:GOEV) have earned an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $42.63.

A number of research firms have issued reports on GOEV. Alliance Global Partners restated a “neutral” rating on shares of Canoo in a research report on Monday, January 6th. Stifel Nicolaus cut shares of Canoo from a “buy” rating to a “hold” rating and lowered their price target for the company from $4.50 to $0.50 in a research report on Tuesday, December 31st.

Hedge Funds Weigh In On Canoo

Large investors have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new position in Canoo during the 4th quarter worth $69,000. Jane Street Group LLC grew its position in shares of Canoo by 51.4% in the 4th quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock worth $238,000 after buying an additional 57,347 shares during the last quarter. National Bank of Canada FI increased its position in Canoo by 609.8% during the 4th quarter. National Bank of Canada FI now owns 37,653 shares of the company’s stock valued at $53,000 after buying an additional 45,039 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Canoo in the third quarter worth $280,000. Finally, Geode Capital Management LLC raised its position in Canoo by 25.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,679,627 shares of the company’s stock worth $1,652,000 after buying an additional 341,897 shares during the last quarter. Hedge funds and other institutional investors own 36.23% of the company’s stock.

Canoo Trading Down 16.0 %

Shares of 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 stock’s 50-day moving average price is $0.34 and its 200-day moving average price is $5.85. The stock has a market capitalization 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.