Canoo Inc. (NASDAQ:GOEV – Get Free Report) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 9,870,000 shares, an increase of 6.9% from the May 31st total of 9,230,000 shares. Approximately 15.5% of the company’s shares are sold short. Based on an average daily volume of 5,010,000 shares, the short-interest ratio is presently 2.0 days.
Canoo Price Performance
Shares of NASDAQ:GOEV traded up $0.31 during midday trading on Tuesday, hitting $2.33. The company had a trading volume of 7,540,907 shares, compared to its average volume of 6,270,547. The company has a market cap of $159.77 million, a price-to-earnings ratio of -0.22 and a beta of 1.28. Canoo has a 12-month low of $1.22 and a 12-month high of $19.50. The company has a fifty day moving average of $2.33 and a two-hundred day moving average of $3.17.
Canoo (NASDAQ:GOEV – Get Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same period last year, the firm posted ($3.91) earnings per share. Research analysts expect that Canoo will post -4.37 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GOEV. 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. Benchmark reissued a “buy” rating and issued a $5.00 price target on shares of Canoo in a research report on Wednesday, May 22nd. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Canoo in a research report on Wednesday, May 15th. Roth Mkm dropped their price target on Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 15th. Finally, R. F. Lafferty cut Canoo from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.79.
View Our Latest Research Report on GOEV
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.
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