Canoo (NASDAQ:GOEV) Price Target Cut to $3.00

Canoo (NASDAQ:GOEVGet Free Report) had its target price decreased by analysts at Roth Mkm from $4.00 to $3.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price target indicates a potential upside of 14.94% from the company’s previous close.

Other analysts have also issued research reports about the company. Benchmark reaffirmed a “buy” rating and issued a $5.00 target price on shares of Canoo in a research note on Wednesday. R. F. Lafferty lowered Canoo from a “buy” rating to a “hold” rating in a research note on Wednesday. Alliance Global Partners cut their target price on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research note on Friday, March 15th. Stifel Nicolaus dropped their price objective on Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Canoo in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued 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.

Read Our Latest Stock Report on GOEV

Canoo Trading Down 6.5 %

Shares of NASDAQ GOEV traded down $0.18 during midday trading on Wednesday, hitting $2.61. 4,232,007 shares of the company’s stock were exchanged, compared to its average volume of 6,842,861. Canoo has a 12-month low of $1.22 and a 12-month high of $19.50. The company has a market cap of $168.08 million, a price-to-earnings ratio of -0.19 and a beta of 1.26. The business’s fifty day moving average price is $2.74 and its two-hundred day moving average price is $4.21.

Canoo (NASDAQ:GOEVGet Free Report) last issued its quarterly earnings data on Monday, April 1st. The company reported ($0.93) EPS for the quarter. The firm had revenue of $0.37 million during the quarter. Equities analysts expect that Canoo will post -3.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Canoo

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EP Wealth Advisors LLC raised its holdings 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. Swiss National Bank raised its holdings in shares of Canoo by 20.5% during the third quarter. Swiss National Bank now owns 935,200 shares of the company’s stock valued at $458,000 after acquiring an additional 159,400 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Canoo during the first quarter valued at approximately $900,000. Kestra Private Wealth Services LLC raised its holdings in shares of Canoo by 36.9% during the third quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after acquiring an additional 47,000 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Canoo in the third quarter worth $72,000. Institutional investors own 36.23% of the company’s stock.

About Canoo

(Get Free Report)

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.

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Analyst Recommendations for Canoo (NASDAQ:GOEV)

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