Alliance Global Partners Reaffirms Neutral Rating for Canoo (NASDAQ:GOEV)

Alliance Global Partners reissued their neutral rating on shares of Canoo (NASDAQ:GOEV) in a research report report published on Monday,Benzinga reports.

A number of other analysts have also weighed in on the company. HC Wainwright lowered their target price on Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Stifel Nicolaus downgraded shares of Canoo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $4.50 to $0.50 in a research note on Tuesday, December 31st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.10.

Canoo Price Performance

GOEV stock opened at $1.27 on Monday. The business has a fifty day moving average price of $6.56 and a 200 day moving average price of $22.25. Canoo has a fifty-two week low of $1.24 and a fifty-two week high of $141.68. The stock has a market capitalization of $6.15 million, a price-to-earnings ratio of -0.36 and a beta of 1.30.

Institutional Investors Weigh In On Canoo

Several institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in Canoo in the second quarter valued at approximately $35,000. Point72 DIFC Ltd acquired a new position in shares of Canoo in the 2nd quarter valued at $37,000. Headlands Technologies LLC bought a new position in shares of Canoo in the 2nd quarter worth $60,000. CIBC Asset Management Inc acquired a new stake in shares of Canoo during the second quarter worth $67,000. Finally, XTX Topco Ltd increased its holdings in Canoo by 191.7% in the third quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock valued at $31,000 after purchasing an additional 20,805 shares during the last quarter. Institutional investors and hedge funds own 36.23% of the company’s stock.

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.