Canoo Inc. [GOEV] moved down -0.49: Why It’s Important

Canoo Inc. [NASDAQ: GOEV] loss -0.49% on the last trading session, reaching $2.03 price per share at the time. The company report on May 10, 2022 that CANOO INC. ANNOUNCES FIRST QUARTER 2022 RESULTS.


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$300 million in total funding via a committed PIPE from an existing shareholder and an equity purchase agreement with financing partner Yorkville Advisors.

In addition, the Company has filed a $300 million universal shelf.

Canoo Inc. represents 255.47 million in outstanding shares, while the company has a total market value of $518.60 million with the latest information. GOEV stock price has been found in the range of $1.91 to $2.04.

If compared to the average trading volume of 2.64M shares, GOEV reached a trading volume of 7867833 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $11.25 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 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 0.24 The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 0.41.

Trading performance analysis for GOEV stock

Canoo Inc. [GOEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.12. With this latest performance, GOEV shares dropped by -42.33% in over the last four-week period, additionally sinking by -74.63% over the last 6 months – not to mention a drop of -79.33% 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 27.85, with the RSI for the last a single of trading hit 23.40, and the three-weeks RSI is set at 31.00 for Canoo Inc. [GOEV]. The present Moving Average for the last 50 days of trading for this stock 3.53, while it was recorded at 2.13 for the last single week of trading, and 6.28 for the last 200 days.

Canoo Inc. [GOEV]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -75.73, with Return on Assets sitting at -54.33.

Canoo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

An analysis of insider ownership at Canoo Inc. [GOEV]

There are presently around $79 million, or 36.50% of GOEV stock, in the hands of institutional investors. The top three institutional holders of GOEV stocks are: VANGUARD GROUP INC with ownership of 11,887,857, which is approximately -0.07% of the company’s market cap and around 12.60% of the total institutional ownership; BLACKROCK INC., holding 7,721,670 shares of the stock with an approximate value of $15.75 million in GOEV stocks shares; and INVESCO LTD., currently with $7.45 million in GOEV stock with ownership of nearly 29.521% of the company’s market capitalization.

Positions in Canoo Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 74 institutional holders increased their position in Canoo Inc. [NASDAQ:GOEV] by around 3,916,734 shares. Additionally, 68 investors decreased positions by around 3,435,142 shares, while 32 investors held positions by with 31,372,793 shares. The mentioned changes placed institutional holdings at 38,724,669 shares, according to the latest SEC report filing. GOEV stock had 31 new institutional investments in for a total of 1,261,677 shares, while 28 institutional investors sold positions of 1,510,359 shares during the same period.

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