Brokerages Set Canoo Inc. (NASDAQ:GOEV) PT at $23.79

Canoo Inc. (NASDAQ:GOEV) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $23.79.

A number of analysts recently weighed in on GOEV shares. Roth Mkm dropped their price objective on shares of Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, May 15th. Alliance Global Partners dropped their price objective on shares of Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a report on Friday, March 15th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Canoo in a report on Wednesday, May 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Canoo in a report on Wednesday, May 15th. Finally, R. F. Lafferty lowered shares of Canoo from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th.

Hedge Funds Weigh In On Canoo

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC boosted its position in shares of Canoo by 269.3% during the 4th quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock valued at $257,000 after purchasing an additional 729,236 shares in the last quarter. Swiss National Bank boosted its position in shares of Canoo by 20.5% during the 3rd quarter. Swiss National Bank now owns 935,200 shares of the company’s stock valued at $458,000 after purchasing an additional 159,400 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Canoo during the 1st quarter valued at about $900,000. Kestra Private Wealth Services LLC boosted its position in shares of Canoo by 36.9% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after purchasing an additional 47,000 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Canoo during the 3rd quarter valued at about $72,000. Institutional investors own 36.23% of the company’s stock.

Canoo Stock Performance

Shares of NASDAQ:GOEV opened at $1.80 on Friday. The stock has a market capitalization of $123.43 million, a price-to-earnings ratio of -0.17 and a beta of 1.28. Canoo has a 1-year low of $1.22 and a 1-year high of $19.50. The company’s fifty day moving average is $2.53 and its two-hundred day moving average is $3.54.

Canoo (NASDAQ:GOEV) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($2.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same period last year, the business earned ($3.91) EPS. Sell-side analysts expect that Canoo will post -4.37 EPS for the current fiscal year.

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.