Canoo Inc [NASDAQ: GOEV] stock went on an upward path that rose over 18.15% on Tuesday, amounting to a one-week price increase of more than 21.07%.
Over the last 12 months, GOEV stock dropped by -81.20%. The one-year Canoo Inc stock forecast points to a potential upside of 69.03. The average equity rating for GOEV stock is currently 1.33, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $188.69 million, with 64.40 million shares outstanding and 58.19 million shares in the current float. Compared to the average trading volume of 8.25M shares, GOEV stock reached a trading volume of 14649572 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 $9.46 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 0.52, with the Price to Sales ratio for GOEV stock in the period of the last 12 months amounting to 212.01. The Price to Book ratio for the last quarter was 0.45, with the Price to Cash per share for the same quarter was set at 0.16.
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 21.07. With this latest performance, GOEV shares gained by 51.03% in over the last four-week period, additionally sinking by -61.86% over the last 6 months – not to mention a drop of -81.20% 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 52.63, with the RSI for the last a single of trading hit 56.46, and the three-weeks RSI is set at 50.36 for Canoo Inc [GOEV]. The present Moving Average for the last 50 days of trading for this stock 2.80, while it was recorded at 2.49 for the last single week of trading, and 7.37 for the last 200 days.
Insight into Canoo Inc Fundamentals:
Canoo Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.14 and a Current Ratio set at 0.18.
Canoo Inc [GOEV] Institutonal Ownership Details
The top three institutional holders of GOEV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GOEV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GOEV stock with ownership which is approximately 5.8386%.
