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

Shares of Canoo Inc. (NASDAQ:GOEV) have received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $23.04.

GOEV has been the topic of several recent analyst reports. 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 lowered their target price on shares of Canoo from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th.

Canoo Trading Up 6.5 %

Shares of GOEV stock opened at $0.74 on Wednesday. The firm’s fifty day moving average price is $0.97 and its two-hundred day moving average price is $1.71. Canoo has a 1 year low of $0.37 and a 1 year high of $8.81. The firm has a market capitalization of $60.13 million, a P/E ratio of -0.09 and a beta of 1.29.

Canoo (NASDAQ:GOEV) last released its earnings results on Wednesday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.68. The company had revenue of $0.61 million during the quarter, compared to analyst estimates of $1.99 million. As a group, equities research analysts forecast that Canoo will post -3.75 EPS for the current fiscal year.

Institutional Trading of Canoo

A number of institutional investors and hedge funds have recently made changes to their positions in GOEV. MBL Wealth LLC bought a new stake in Canoo during the second quarter worth $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Canoo during the 2nd quarter worth $35,000. The Manufacturers Life Insurance Company acquired a new stake in Canoo in the second quarter valued at about $35,000. Point72 DIFC Ltd bought a new position in Canoo in the second quarter valued at about $37,000. Finally, Curbstone Financial Management Corp acquired a new position in Canoo during the second quarter worth about $43,000. Institutional investors 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.