Stifel lifts Canoo Inc. [GOEV] price estimate. Who else is bullish?

Canoo Inc. [NASDAQ: GOEV] slipped around 0.0 points on Friday, while shares priced at $0.59 at the close of the session, down -0.34%. The company report on August 28, 2023 at 7:00 AM that Canoo Names Ethridge Chief Financial Officer.

Canoo (NASDAQ: GOEV), a leading high-tech advanced mobility company, announced it has named current Board Member Greg Ethridge as Chief Financial Officer, succeeding Ken Manget.  Ethridge will report to Canoo Chairman and CEO, Tony Aquila.  This move is effective immediately, and Ethridge will assume responsibilities for capital markets, investor relations, accounting & financial reporting functions. Ethridge agrees to resign from Canoo’s Board of Directors by the end of the year.

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“I am pleased to announce the appointment of Greg to Canoo’s executive management team. Greg has served on the Canoo board since 2020 and has a strong understanding of our business strategy and long-term plans,” said Tony Aquila, Chairman and CEO at Canoo. “I’m grateful for the hard work that Ken delivered and wish him the best in the future.”.

Canoo Inc. stock is now -51.99% down from its year-to-date (YTD) trading value. GOEV Stock saw the intraday high of $0.6275 and lowest of $0.58 per share. The company’s 52-week high price is 3.11, which means current price is +42.81% above from all time high which was touched on 01/27/23.

Compared to the average trading volume of 38.45M shares, GOEV reached a trading volume of 21511081 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 $3.11 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 2.00. 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.

Stifel have made an estimate for Canoo Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 16, 2022.

The Average True Range (ATR) for Canoo Inc. is set at 0.06 The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 0.01.

How has GOEV stock performed recently?

Canoo Inc. [GOEV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.75. With this latest performance, GOEV shares dropped by -8.82% in over the last four-week period, additionally sinking by -20.46% over the last 6 months – not to mention a drop of -81.49% 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 53.46, with the RSI for the last a single of trading hit 54.68, and the three-weeks RSI is set at 52.22 for Canoo Inc. [GOEV]. The present Moving Average for the last 50 days of trading for this stock 0.5572, while it was recorded at 0.6274 for the last single week of trading, and 0.8021 for the last 200 days.

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

Return on Total Capital for GOEV is now -151.60, given the latest momentum, and Return on Invested Capital for the company is -154.09. Return on Equity for this stock declined to -168.00, with Return on Assets sitting at -95.67. When it comes to the capital structure of this company, Canoo Inc. [GOEV] has a Total Debt to Total Equity ratio set at 31.04. Additionally, GOEV Total Debt to Total Capital is recorded at 23.69, with Total Debt to Total Assets ending up at 14.79. Long-Term Debt to Equity for the company is recorded at 16.32, with the Long-Term Debt to Total Capital now at 12.45.

Reflecting on the efficiency of the workforce at the company, Canoo Inc. [GOEV] managed to generate an average of -$600,608 per employee.Canoo Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

Insider trade positions for Canoo Inc. [GOEV]

The top three institutional holders of GOEV stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in GOEV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in GOEV stock with ownership which is approximately 5.7381%.

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