Canoo Inc [NASDAQ: GOEV] stock went on a downward path that fall over -0.65% on Friday, amounting to a one-week price increase of more than 3.21%. The company report on November 2, 2023 at 4:30 PM that Canoo to Announce Third Quarter 2023 Financial Results.
Canoo (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter ended September 30, 2023 after market close on Tuesday, November 14, 2023. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period.
Those interested are invited to listen to the live webcast online here. A replay of the webcast will be available shortly afterwards here.
Over the last 12 months, GOEV stock dropped by -79.30%. The one-year Canoo Inc stock forecast points to a potential upside of 91.32. The average equity rating for GOEV stock is currently 1.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $189.85 million, with 694.93 million shares outstanding and 558.70 million shares in the current float. Compared to the average trading volume of 23.95M shares, GOEV stock reached a trading volume of 22325867 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $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 1.40. 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 0.03 The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 0.01.
GOEV Stock Performance Analysis:
Canoo Inc [GOEV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.21. With this latest performance, GOEV shares dropped by -38.47% in over the last four-week period, additionally sinking by -61.38% over the last 6 months – not to mention a drop of -79.30% 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 34.83, with the RSI for the last a single of trading hit 37.58, and the three-weeks RSI is set at 35.36 for Canoo Inc [GOEV]. The present Moving Average for the last 50 days of trading for this stock 0.4262, while it was recorded at 0.2684 for the last single week of trading, and 0.6181 for the last 200 days.
Insight into Canoo Inc 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 0.13.
Canoo Inc [GOEV] Institutonal Ownership Details
The top three institutional holders of GOEV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in GOEV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in GOEV stock with ownership which is approximately 5.7994%.