Canoo Inc. [NASDAQ: GOEV] closed the trading session at $8.47 on 04/05/21. The day’s price range saw the stock hit a low of $8.05, while the highest price level was $9.16. The company report on April 6, 2021 that GOEV ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of June 1, 2021 in the Class Action Filed on Behalf of Canoo Inc. Limited Shareholders.
New York, New York–(Newsfile Corp. – April 5, 2021) – The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Canoo Inc. (NASDAQ: GOEV) alleging that the Company violated federal securities laws.
Class Period: August 18, 2020 and March 29, 2021Lead Plaintiff Deadline: June 1, 2021.
The stocks have a year to date performance of -38.62 percent and weekly performance of -32.02 percent. The stock has been moved at -23.90 percent over the last six months. The stock has performed -25.90 percent around the most recent 30 days and changed -38.62 percent over the most recent 3-months.
If compared to the average trading volume of 6.39M shares, GOEV reached to a volume of 12268243 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]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GOEV shares is $15.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GOEV stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH Capital have made an estimate for Canoo Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 30, 2021. While these analysts kept the previous recommendation, R. F. Lafferty raised their target price to Buy. The new note on the price target was released on March 11, 2021, representing the official price target for Canoo Inc. stock.
The Average True Range (ATR) for Canoo Inc. is set at 1.32, with the Price to Sales ratio for GOEV stock in the period of the last 12 months amounting to 786.25. The Price to Book ratio for the last quarter was 1.09, 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 -32.02. With this latest performance, GOEV shares dropped by -25.90% in over the last four-week period, additionally sinking by -23.90% over the last 6 months – not to mention a drop of -16.14% 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 24.68, with the RSI for the last a single of trading hit 16.00, and the three-weeks RSI is set at 30.71 for Canoo Inc. [GOEV]. The present Moving Average for the last 50 days of trading for this stock 14.37, while it was recorded at 9.52 for the last single week of trading, and 12.79 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 $93 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 $21.18 million in GOEV stocks shares; and PHOENIX HOLDINGS LTD., currently with $10.29 million in GOEV stock with ownership of nearly 130.811% of the company’s market capitalization.
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 1 investors held positions by with 10,293,879 shares. The mentioned changes placed institutional holdings at 10,994,784 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.