Canoo (NASDAQ:GOEV) Trading Up 0.3%

Canoo Inc. (NASDAQ:GOEV)’s share price traded up 0.3% during trading on Wednesday . The stock traded as high as $3.49 and last traded at $2.94. 6,294,327 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 7,703,346 shares. The stock had previously closed at $2.93.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOEV shares. Wedbush began coverage on shares of Canoo in a report on Friday, January 5th. They set an “outperform” rating and a $92.00 target price on the stock. Alliance Global Partners decreased their price target 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 began coverage on shares of Canoo in a report on Wednesday. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus decreased their price target on shares of Canoo from $34.50 to $17.25 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $49.19.

Canoo Stock Up 2.7 %

The company’s fifty day simple moving average is $2.76 and its 200 day simple moving average is $4.90. The firm has a market capitalization of $198.35 million, a PE ratio of -0.22 and a beta of 1.23.

Hedge Funds Weigh In On Canoo

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Canoo by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 26,036,884 shares of the company’s stock valued at $6,697,000 after purchasing an additional 904,907 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Canoo by 212.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 470,047 shares of the company’s stock valued at $121,000 after acquiring an additional 319,538 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of Canoo by 269.3% during the fourth quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock valued at $257,000 after acquiring an additional 729,236 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Canoo by 745.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 117,540 shares of the company’s stock valued at $30,000 after acquiring an additional 103,630 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Canoo by 259.0% during the fourth quarter. Barclays PLC now owns 311,561 shares of the company’s stock valued at $80,000 after acquiring an additional 224,773 shares in the last quarter. Institutional investors own 36.23% of the company’s stock.

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.