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

Shares of Canoo Inc. (NASDAQ:GOEV - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.79.

A number of analysts have recently issued reports on GOEV shares. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Canoo in a research note on Wednesday, May 15th. R. F. Lafferty cut shares of Canoo from a "buy" rating to a "hold" rating in a research note on Wednesday, May 15th. Benchmark restated a "buy" rating and set a $5.00 target price on shares of Canoo in a research note on Wednesday, May 22nd. Finally, Roth Mkm cut their target price on shares of Canoo from $4.00 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, May 15th.

Insiders Place Their Bets

In other Canoo news, General Counsel Hector M. Ruiz sold 10,937 shares of Canoo stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $2.33, for a total value of $25,483.21. Following the completion of the sale, the general counsel now owns 181,513 shares in the company, valued at approximately $422,925.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Hector M. Ruiz sold 10,937 shares of the business'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 completion of the transaction, the general counsel now directly owns 181,513 shares in the company, valued at approximately $422,925.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ramesh Murthy sold 10,948 shares of the business'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 transaction of $25,508.84. Following the completion of the transaction, the chief accounting officer now owns 181,447 shares of the company's stock, valued at $422,771.51. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On Canoo

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC grew its holdings in Canoo by 269.3% during the 4th quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company's stock worth $257,000 after acquiring an additional 729,236 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Canoo in the 1st quarter valued at $900,000. Bank of New York Mellon Corp bought a new stake in shares of Canoo in the 2nd quarter valued at $392,000. SG Americas Securities LLC boosted its stake 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 valued at $79,000 after purchasing an additional 10,786 shares during the last quarter. Finally, Curbstone Financial Management Corp bought a new stake in shares of Canoo in the 2nd quarter valued at $43,000. 36.23% of the stock is owned by institutional investors.

Canoo Trading Down 5.8 %

Shares of GOEV traded down $0.12 during midday trading on Monday, reaching $1.95. The stock had a trading volume of 2,620,583 shares, compared to its average volume of 5,831,891. The firm has a 50 day simple moving average of $2.17 and a 200-day simple moving average of $2.74. Canoo has a one year low of $1.22 and a one year high of $15.96. The firm has a market cap of $138.84 million, a PE ratio of -0.19 and a beta of 1.28.

Canoo (NASDAQ:GOEV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($2.20) EPS for the quarter, missing analysts' consensus estimates of ($0.97) by ($1.23). During the same quarter in the prior year, the company earned ($3.91) EPS. As a group, research 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.