Canoo (NASDAQ:GOEV) Trading Down 2.2%

Canoo Inc. (NASDAQ:GOEVGet Free Report) was down 2.2% on Monday . The company traded as low as $3.42 and last traded at $3.49. Approximately 4,644,837 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 7,827,703 shares. The stock had previously closed at $3.57.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GOEV shares. Wedbush started coverage on shares of Canoo in a research note on Friday, January 5th. They issued an “outperform” rating and a $92.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, Alliance Global Partners reduced their price objective on shares of Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research note on Friday, March 15th.

Check Out Our Latest Analysis on GOEV

Canoo Stock Performance

The stock’s 50 day moving average price is $3.10 and its 200 day moving average price is $5.52. The company has a current ratio of 0.17, a quick ratio of 0.14 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $103.13 million, a price-to-earnings ratio of -0.14 and a beta of 1.23.

Institutional Investors Weigh In On Canoo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Canoo by 3.6% in the 4th 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 during the period. Goldman Sachs Group Inc. raised its holdings in shares of Canoo by 212.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 470,047 shares of the company’s stock valued at $121,000 after purchasing an additional 319,538 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Canoo by 269.3% in the 4th quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock valued at $257,000 after purchasing an additional 729,236 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Canoo by 745.0% in the 4th 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 during the period. Finally, Barclays PLC raised its holdings in Canoo by 259.0% in the 4th quarter. Barclays PLC now owns 311,561 shares of the company’s stock valued at $80,000 after acquiring an additional 224,773 shares during the period. 36.23% of the stock is owned by institutional investors.

About Canoo

(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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