Canoo Inc. [GOEV] Revenue clocked in at $2.55 million, down -9.71% YTD: What’s Next?

Canoo Inc. [NASDAQ: GOEV] plunged by -$0.34 during the normal trading session on Friday and reaching a high of $13.28 during the day while it closed the day at $12.46. The company report on March 17, 2021 that Canoo to Announce Fourth Quarter and Full Year 2020 Financial Results.

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Canoo Inc. (Nasdaq: GOEV) (“Canoo” or the “Company”), a company developing breakthrough purpose-built electric vehicles (EVs) with a proprietary and highly versatile platform architecture, today announced that it expects to report its financial results for the fourth quarter and full year ended December 31, 2020 on Monday, March 29, 2021. The Company will host a conference call with a live webcast at 2:00 p.m. PT/5:00 p.m. ET on the same day to discuss the results, followed by a question-and-answer period.

Those interested are invited to listen to the live webcast online here. A replay of the webcast will be available shortly afterwards and accessible here.

Canoo Inc. stock has also loss -18.99% of its value over the past 7 days. However, GOEV stock has declined by -35.77% in the 3 months of the year. Over the past six months meanwhile, it has gained 13.69% and lost -9.71% year-on date.

The market cap for GOEV stock reached $3.02 billion, with 242.09 million shares outstanding and 88.95 million shares in the current float. Compared to the average trading volume of 5.82M shares, GOEV reached a trading volume of 3614349 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Canoo Inc. [GOEV]:

R. F. Lafferty have made an estimate for Canoo Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 11, 2021.

The Average True Range (ATR) for Canoo Inc. is set at 1.30, with the Price to Sales ratio for GOEV stock in the period of the last 12 months amounting to 1182.92. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 0.00.

GOEV stock trade performance evaluation

Canoo Inc. [GOEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.99. With this latest performance, GOEV shares dropped by -7.84% in over the last four-week period, additionally plugging by 13.69% over the last 6 months – not to mention a rise of 21.56% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GOEV stock in for the last two-week period is set at 38.50, with the RSI for the last a single of trading hit 32.53, and the three-weeks RSI is set at 41.60 for Canoo Inc. [GOEV]. The present Moving Average for the last 50 days of trading for this stock 15.13, while it was recorded at 13.66 for the last single week of trading, and 12.81 for the last 200 days.

Canoo Inc. [GOEV]: An insightful look at the core fundamentals

Canoo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

Canoo Inc. [GOEV]: Insider Ownership positions

There are presently around $139 million, or 4.50% of GOEV stock, in the hands of institutional investors. The top three institutional holders of GOEV stocks are: D. E. SHAW & CO., INC. with ownership of 2,500,000, which is approximately 238.695% of the company’s market cap and around 0.80% of the total institutional ownership; LUXOR CAPITAL GROUP, LP, holding 2,500,000 shares of the stock with an approximate value of $31.15 million in GOEV stocks shares; and PHOENIX HOLDINGS LTD., currently with $15.13 million in GOEV stock with ownership of nearly 130.811% of the company’s market capitalization.

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55 institutional holders increased their position in Canoo Inc. [NASDAQ:GOEV] by around 8,758,656 shares. Additionally, 46 investors decreased positions by around 12,530,007 shares, while 2 investors held positions by with 10,133,143 shares. The mentioned changes placed institutional holdings at 11,155,520 shares, according to the latest SEC report filing. GOEV stock had 40 new institutional investments in for a total of 4,867,084 shares, while 40 institutional investors sold positions of 10,258,594 shares during the same period.

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