Canoo Inc. [GOEV] fell -39.42% so far this year. What now?

Canoo Inc. [NASDAQ: GOEV] traded at a low on 04/15/21, posting a -8.73 loss after which it closed the day’ session at $8.36. The company report on April 16, 2021 that CANOO SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 Of Lead Plaintiff Deadline in Class Action Lawsuit Against Canoo Inc. – GOEV, GOEVW.

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New Orleans, Louisiana–(Newsfile Corp. – April 15, 2021) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 1, 2021 to file lead plaintiff applications in a securities class action lawsuit against Canoo Inc. (NasdaqGS: GOEV, GOEVW) f/k/a Hennessy Capital Acquisition Corp. IV, if they purchased the Company’s securities between August 18, 2020 and March 29, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.

What You May Do.

The results of the trading session contributed to over 6099138 shares changing hands. Over the past one week, the price volatility of Canoo Inc. stands at 8.33% while the volatility over the past one month is 9.61%.

The market cap for GOEV stock reached $2.10 billion, with 251.07 million shares outstanding and 96.45 million shares in the current float. Compared to the average trading volume of 6.08M shares, GOEV reached a trading volume of 6099138 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 1.14, with the Price to Sales ratio for GOEV stock in the period of the last 12 months amounting to 807.29. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 2.80.

How has GOEV stock performed recently?

Canoo Inc. [GOEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.07. With this latest performance, GOEV shares dropped by -45.85% in over the last four-week period, additionally sinking by -19.62% over the last 6 months – not to mention a drop of -17.64% 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 31.75, with the RSI for the last a single of trading hit 28.86, and the three-weeks RSI is set at 34.67 for Canoo Inc. [GOEV]. The present Moving Average for the last 50 days of trading for this stock 13.32, while it was recorded at 9.08 for the last single week of trading, and 12.74 for the last 200 days.

Canoo Inc. [GOEV]: Deeper insight into the fundamentals

Canoo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 25.40 and a Current Ratio set at 25.40.

Insider trade positions for Canoo Inc. [GOEV]

There are presently around $91 million, or 4.40% 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 $20.9 million in GOEV stocks shares; and PHOENIX HOLDINGS LTD., currently with $10.15 million in GOEV stock with ownership of nearly 130.811% of the company’s market capitalization.

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54 institutional holders increased their position in Canoo Inc. [NASDAQ:GOEV] by around 8,704,386 shares. Additionally, 46 investors decreased positions by around 12,474,256 shares, while 4 investors held positions by with 10,235,478 shares. The mentioned changes placed institutional holdings at 10,943,164 shares, according to the latest SEC report filing. GOEV stock had 39 new institutional investments in for a total of 4,812,814 shares, while 40 institutional investors sold positions of 10,202,843 shares during the same period.

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