Canoo Inc. (NASDAQ:GOEV) CAO Ramesh Murthy Sells 10,948 Shares

Canoo Inc. (NASDAQ:GOEV) CAO Ramesh Murthy sold 10,948 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $2.33, for a total value of $25,508.84. Following the transaction, the chief accounting officer now directly owns 181,447 shares in the company, valued at approximately $422,771.51. The transaction was disclosed in a filing with the SEC, which is available at this link.

Canoo Price Performance

NASDAQ GOEV traded down $0.11 during trading on Friday, hitting $2.12. The company’s stock had a trading volume of 2,303,448 shares, compared to its average volume of 6,209,144. Canoo Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $19.50. The business’s 50 day simple moving average is $2.31 and its 200-day simple moving average is $3.15.

Canoo (NASDAQ:GOEV) last released its earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($1.23). During the same period in the prior year, the firm earned ($3.91) EPS. As a group, equities analysts expect that Canoo Inc. will post -4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Canoo

Several hedge funds have recently made changes to their positions in the company. Curbstone Financial Management Corp purchased a new stake in Canoo during the 2nd quarter valued at about $43,000. SG Americas Securities LLC boosted its position in Canoo by 95.6% in the first quarter. SG Americas Securities LLC now owns 22,065 shares of the company’s stock valued at $79,000 after buying an additional 10,786 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Canoo in the third quarter valued at approximately $133,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Canoo in the 1st quarter worth approximately $900,000. 36.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOEV shares. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Canoo in a report on Wednesday, May 22nd. R. F. Lafferty downgraded shares of Canoo from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Alliance Global Partners dropped their target price on Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a research report on Friday, March 15th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Canoo in a research report on Wednesday, May 15th. Finally, Roth Mkm dropped their price objective on Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.79.

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.