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

Canoo Inc. (NASDAQ:GOEV) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $23.79.

A number of equities research analysts recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $5.00 price target on shares of Canoo in a research note on Wednesday, May 22nd. Roth Mkm cut their target price on Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Canoo in a research report on Wednesday, May 15th. Finally, R. F. Lafferty downgraded shares of Canoo from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th.

Insiders Place Their Bets

In other news, CAO Ramesh Murthy sold 10,948 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $2.33, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Ramesh Murthy sold 10,948 shares of Canoo stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 181,447 shares in the company, valued at approximately $422,771.51. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Hector M. Ruiz sold 10,937 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total value of $25,483.21. Following the transaction, the general counsel now owns 181,513 shares of the company’s stock, valued at approximately $422,925.29. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. EP Wealth Advisors LLC increased its stake in 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. SG Americas Securities LLC increased its holdings in shares of Canoo by 95.6% in the 1st quarter. SG Americas Securities LLC now owns 22,065 shares of the company’s stock worth $79,000 after purchasing an additional 10,786 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Canoo during the first quarter valued at $900,000. Curbstone Financial Management Corp bought a new stake in Canoo in the 2nd quarter worth about $43,000. Finally, MBL Wealth LLC bought a new position in Canoo during the 2nd quarter valued at about $31,000. 36.23% of the stock is currently owned by institutional investors.

Canoo Trading Down 3.7 %

Shares of GOEV opened at $1.80 on Monday. The stock has a market cap of $128.16 million, a PE 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 $15.96. The stock has a 50 day simple moving average of $2.13 and a 200-day simple moving average of $2.69.

Canoo (NASDAQ:GOEV) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($1.23). During the same quarter in the previous year, the company earned ($3.91) EPS. On average, sell-side analysts forecast that Canoo will post -4.37 EPS for the current fiscal year.

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.