Canoo Inc. (NASDAQ: GOEV) is -52.03% lower on its value in year-to-date trading and has touched a low of $0.54 and a high of $6.25 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GOEV stock was last observed hovering at around $0.57 in the last trading session, with the day’s gains setting it 0.02% off its average median price target of $6.00 for the next 12 months. It is also 94.1% off the consensus price target high of $10.00 offered by 3 analysts, but current levels are 41.0% higher than the price target low of $1.00 for the same period.
Currently trading at $0.59, the stock is -18.12% and -40.78% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 38.42 million and changing 4.20% at the moment leaves the stock -70.51% off its SMA200. GOEV registered -89.41% loss for a year compared to 6-month loss of -77.31%.
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The stock witnessed a -37.05% gain in the last 1 month and extending the period to 3 months gives it a -53.91%, and is -1.67% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.00% over the week and 8.51% over the month.
Distance from 52-week low is 8.84% and -90.56% from its 52-week high.
Canoo Inc. (GOEV) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Canoo Inc. (GOEV) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Canoo Inc. is expected to release its quarterly report on 05/15/2023.The EPS is expected to shrink by -93.70% this year
Canoo Inc. (GOEV) Top Institutional Holders
The shares outstanding are 428.62M, and float is at 381.79M with Short Float at 13.07%.
Canoo Inc. (GOEV) Insider Activity
A total of 14 insider transactions have happened at Canoo Inc. (GOEV) in the last six months, with sales accounting for 11 and purchases happening 3 times. The most recent transaction is an insider sale by MURTHY RAMESH, the company’s SVP and CAO. SEC filings show that MURTHY RAMESH sold 640 shares of the company’s common stock on Feb 16 at a price of $0.91 per share for a total of $582.0. Following the sale, the insider now owns 0.29 million shares.
Canoo Inc. disclosed in a document filed with the SEC on Jan 18 that MURTHY RAMESH (SVP, ICFO and CAO) sold a total of 1,182 shares of the company’s common stock. The trade occurred on Jan 18 and was made at $1.33 per share for $1572.0. Following the transaction, the insider now directly holds 0.29 million shares of the GOEV stock.
Still, SEC filings show that on Jan 06, Ruiz Hector M. (GENERAL COUNSEL, CORP SECY) disposed off 14,384 shares at an average price of $1.10 for $15822.0. The insider now directly holds 291,980 shares of Canoo Inc. (GOEV).