Canoo Inc [NASDAQ: GOEV] closed the trading session at $1.94. The company report on March 11, 2024 at 5:00 PM that Canoo to Announce Fourth Quarter and Fiscal Year 2023 Financial Results.
Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter and full year ended December 31, 2023 after market close on Monday, April 1, 2024. 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. Date: Monday, April 1, 2024 Time: 5:00 pm ET U.S. Dial-in: 877-407-9169 International Dial-in: 201-493-6755 Access ID: 13744832 An audio replay of the call will be available shortly after its conclusion through April 15, 2024. Toll-free Replay Number: 877-660-6853 International Replay Number: 201-612-7415 Replay ID: 13744832.
The stocks have a year to date performance of -67.21 percent and weekly performance of -8.92 percent. The stock has been moved at -83.46 percent over the last six months. The stock has performed -40.77 percent around the most recent 30 days and changed -65.35 percent over the most recent 3-months.
If compared to the average trading volume of 3.39M shares, GOEV reached to a volume of 29709813 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $41.42 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 1.33. 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.
Wedbush have made an estimate for Canoo Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 05, 2024. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on September 16, 2022, representing the official price target for Canoo Inc stock. Previously, the target price had yet another raise from $9 to $14, while ROTH Capital kept a Buy rating on GOEV stock.
The Average True Range (ATR) for Canoo Inc is set at 0.37, with the Price to Sales ratio for GOEV stock in the period of the last 12 months amounting to 212.43. The Price to Book ratio for the last quarter was 0.33, with the Price to Cash per share for the same quarter was set at 0.21.
GOEV stock trade performance evaluation
Canoo Inc [GOEV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.92. With this latest performance, GOEV shares dropped by -40.77% in over the last four-week period, additionally sinking by -83.46% over the last 6 months – not to mention a drop of -85.10% 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 39.21, with the RSI for the last a single of trading hit 44.28, and the three-weeks RSI is set at 37.42 for Canoo Inc [GOEV]. The present Moving Average for the last 50 days of trading for this stock 3.3918, while it was recorded at 1.5530 for the last single week of trading, and 8.3558 for the last 200 days.
Canoo Inc [GOEV]: An insightful look at the core fundamentals
Canoo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.14 and a Current Ratio set at 0.17.
Earnings per share (EPS) analysis for Canoo Inc [GOEV] stock
With the latest financial reports released by the company, Canoo Inc posted -5.75/share EPS, while the average EPS was predicted by analysts to be reported at -8.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 28.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GOEV.
Canoo Inc [GOEV]: Institutional Ownership
The top three institutional holders of GOEV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GOEV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GOEV stock with ownership which is approximately 5.8325%.
