Canoo (NYSE:GOEV) Shares Up 5.2%

Canoo Inc. (NYSE:GOEV)’s share price was up 5.2% during trading on Thursday . The stock traded as high as $3.57 and last traded at $3.42. Approximately 3,804,431 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 7,769,542 shares. The stock had previously closed at $3.25.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOEV shares. Stifel Nicolaus decreased their price target on Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Alliance Global Partners dropped their price target on Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a research report on Friday, March 15th. Finally, Wedbush began coverage on Canoo in a research report on Friday, January 5th. They issued an “outperform” rating and a $92.00 target price on the stock.

Canoo Trading Up 9.8 %

The stock has a market cap of $149.05 million, a P/E ratio of -0.19 and a beta of 1.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.14 and a current ratio of 0.17. The company has a 50-day simple moving average of $3.15 and a 200-day simple moving average of $5.79.

Institutional Trading of Canoo

A number of institutional investors have recently modified their holdings of GOEV. Vanguard Group Inc. raised its stake in Canoo by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 26,036,884 shares of the company’s stock valued at $6,697,000 after buying an additional 904,907 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Canoo by 212.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 470,047 shares of the company’s stock valued at $121,000 after purchasing an additional 319,538 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Canoo by 269.3% in the fourth 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 during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Canoo by 745.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 117,540 shares of the company’s stock valued at $30,000 after purchasing an additional 103,630 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Canoo by 259.0% in the fourth quarter. Barclays PLC now owns 311,561 shares of the company’s stock valued at $80,000 after purchasing an additional 224,773 shares during the last quarter. 36.23% of the stock is currently owned by institutional investors.

About Canoo

Canoo Inc, a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an EV.