Canoo Inc. (NASDAQ:GOEV) Receives $22.71 Average Price Target from Brokerages

Shares of Canoo Inc. (NASDAQ:GOEV) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $454.17.

Separately, HC Wainwright dropped their price objective on Canoo from $80.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 15th.

Hedge Funds Weigh In On Canoo

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Canoo by 2.8% in the 3rd quarter. State Street Corp now owns 2,309,656 shares of the company’s stock valued at $2,272,000 after acquiring an additional 63,652 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Canoo by 25.6% in the third 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 during the last quarter. Virtu Financial LLC acquired a new stake in Canoo during the 3rd quarter worth about $280,000. Bank of New York Mellon Corp purchased a new position in shares of Canoo during the 2nd quarter valued at about $392,000. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Canoo by 74.9% in the 2nd quarter. EP Wealth Advisors LLC now owns 121,739 shares of the company’s stock valued at $259,000 after buying an additional 52,131 shares during the period. Institutional investors and hedge funds own 36.23% of the company’s stock.

Canoo Price Performance

Shares of Canoo stock opened at $1.37 on Thursday. The stock has a market cap of $6.63 million, a price-to-earnings ratio of -0.39 and a beta of 1.14. The firm’s 50-day moving average is $8.65 and its two-hundred day moving average is $23.80. Canoo has a 1 year low of $1.34 and a 1 year high of $141.68.

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.