Canoo (NASDAQ:GOEV) Rating Lowered to “Hold” at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Canoo (NASDAQ:GOEV) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat Ratings reports. They currently have $0.50 target price on the stock, down from their previous target price of $4.50.

Separately, HC Wainwright decreased their price target on Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $396.75.

Canoo Trading Down 5.7 %

Shares of GOEV stock opened at $1.33 on Tuesday. Canoo has a 12-month low of $1.24 and a 12-month high of $141.68. The business’s fifty day simple moving average is $7.24 and its 200-day simple moving average is $22.95. The company has a market cap of $6.44 million, a PE ratio of -0.38 and a beta of 1.14.

Institutional Trading of Canoo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its holdings in shares of Canoo by 191.7% during the third quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock worth $31,000 after purchasing an additional 20,805 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Canoo during the second quarter worth $35,000. Point72 DIFC Ltd purchased a new stake in Canoo in the second quarter valued at $37,000. Headlands Technologies LLC acquired a new stake in Canoo during the 2nd quarter worth about $60,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Canoo in the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 36.23% of the company’s stock.

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.