Canoo Inc. (NASDAQ:GOEVW) Sees Significant Decrease in Short Interest

Canoo Inc. (NASDAQ:GOEVWGet Free Report) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 16,200 shares, a drop of 78.4% from the January 15th total of 74,900 shares. Based on an average daily volume of 108,100 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Canoo

A hedge fund recently raised its stake in Canoo stock. Woodline Partners LP raised its stake in shares of Canoo Inc. (NASDAQ:GOEVWFree Report) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 130,600 shares of the company’s stock after purchasing an additional 15,200 shares during the quarter. Woodline Partners LP’s holdings in Canoo were worth $38,000 as of its most recent filing with the SEC.

Canoo Stock Performance

Shares of Canoo stock remained flat at $0.07 on Monday. 56,824 shares of the stock were exchanged, compared to its average volume of 123,394. The business has a fifty day moving average price of $0.07 and a 200-day moving average price of $0.08. Canoo has a twelve month low of $0.04 and a twelve month high of $0.21.

Canoo Company Profile

(Get Free Report)

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.

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