Canoo Inc. [NASDAQ: GOEV] price plunged by -5.94 percent to reach at -$0.46. The company report on December 20, 2021 that Canoo Expands Executive Team To Execute Business and Manufacturing Strategy.
Canoo Inc. (Nasdaq: GOEV) Canoo today announced key executive appointments to execute its business and manufacturing strategy.
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Sohel Merchant, who joined the company in 2017 as one of its founders, has been promoted to Chief Technology Officer, Automotive. Mr. Merchant, most recently SVP of Complete Vehicle Engineering at Canoo, has worked closely with Tony Aquila, Investor, Chairman & CEO, since Mr. Aquila joined the company. Mr. Merchant has been in the automotive industry for approximately 20 years, holding executive positions at startups and such OEMs as Tesla and The Ford Motor Company.
A sum of 4238116 shares traded at recent session while its average daily volume was at 5.45M shares. Canoo Inc. shares reached a high of $7.875 and dropped to a low of $7.13 until finishing in the latest session at $7.29.
The one-year GOEV stock forecast points to a potential upside of 46.98. The average equity rating for GOEV stock is currently 2.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $13.75 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 2.70. 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 Buy, with their previous recommendation back on December 16, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on September 07, 2021, representing the official price target for Canoo Inc. stock.
The Average True Range (ATR) for Canoo Inc. is set at 0.73, with the Price to Sales ratio for GOEV stock in the period of the last 12 months amounting to 702.03. The Price to Book ratio for the last quarter was 3.61, with the Price to Cash per share for the same quarter was set at 1.66.
GOEV Stock Performance Analysis:
Canoo Inc. [GOEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.83. With this latest performance, GOEV shares dropped by -24.85% in over the last four-week period, additionally sinking by -17.44% over the last 6 months – not to mention a drop of -48.08% 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 36.08, with the RSI for the last a single of trading hit 31.78, and the three-weeks RSI is set at 39.90 for Canoo Inc. [GOEV]. The present Moving Average for the last 50 days of trading for this stock 9.19, while it was recorded at 7.79 for the last single week of trading, and 8.49 for the last 200 days.
Insight into Canoo Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Canoo Inc. [GOEV] shares currently have an operating margin of -7832.08 and a Gross Margin at -205.69. Canoo Inc.’s Net Margin is presently recorded at -3522.27.
Return on Total Capital for GOEV is now -44.95, given the latest momentum, and Return on Invested Capital for the company is -20.23. Return on Equity for this stock declined to -20.70, with Return on Assets sitting at -16.92. When it comes to the capital structure of this company, Canoo Inc. [GOEV] has a Total Debt to Total Equity ratio set at 3.61. Additionally, GOEV Total Debt to Total Capital is recorded at 3.49, with Total Debt to Total Assets ending up at 2.74. Long-Term Debt to Equity for the company is recorded at 3.53, with the Long-Term Debt to Total Capital now at 3.41.
Reflecting on the efficiency of the workforce at the company, Canoo Inc. [GOEV] managed to generate an average of -$242,751 per employee.Canoo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.
Canoo Inc. [GOEV] Insider Position Details
There are presently around $284 million, or 21.20% of GOEV stock, in the hands of institutional investors. The top three institutional holders of GOEV stocks are: VANGUARD GROUP INC with ownership of 11,925,456, which is approximately -9.36% of the company’s market cap and around 13.30% of the total institutional ownership; BLACKROCK INC., holding 7,518,316 shares of the stock with an approximate value of $58.27 million in GOEV stocks shares; and INVESCO LTD., currently with $33.71 million in GOEV stock with ownership of nearly 17.127% of the company’s market capitalization.
Positions in Canoo Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 70 institutional holders increased their position in Canoo Inc. [NASDAQ:GOEV] by around 4,586,482 shares. Additionally, 38 investors decreased positions by around 5,114,449 shares, while 29 investors held positions by with 26,926,253 shares. The mentioned changes placed institutional holdings at 36,627,184 shares, according to the latest SEC report filing. GOEV stock had 25 new institutional investments in for a total of 833,827 shares, while 21 institutional investors sold positions of 2,649,736 shares during the same period.