Canoo (NASDAQ:GOEV) Trading 0.3% Higher

Shares of Canoo Inc. (NASDAQ:GOEV) were up 0.3% during mid-day trading on Wednesday . The company traded as high as $3.49 and last traded at $2.94. Approximately 6,294,327 shares traded hands during trading, a decline of 18% from the average daily volume of 7,703,346 shares. The stock had previously closed at $2.93.

Analyst Ratings Changes

A number of research analysts have recently commented on GOEV shares. Stifel Nicolaus lowered their price target on Canoo from $34.50 to $17.25 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Alliance Global Partners lowered their target price on shares of Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Wedbush assumed coverage on shares of Canoo in a research note on Friday, January 5th. They issued an “outperform” rating and a $92.00 price target for the company.

Canoo Stock Up 1.4 %

The company has a 50 day moving average of $2.79 and a two-hundred day moving average of $4.93. The firm has a market cap of $191.27 million, a P/E ratio of -0.22 and a beta of 1.23.

Hedge Funds Weigh In On Canoo

Several large investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new stake in Canoo during the first quarter valued at approximately $67,000. Hsbc Holdings PLC acquired a new stake in shares of Canoo during the 1st quarter valued at $95,000. XTX Topco Ltd acquired a new stake in shares of Canoo during the 1st quarter valued at $93,000. Commonwealth Equity Services LLC bought a new stake in shares of Canoo during the 3rd quarter worth $32,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Canoo by 32.9% in the 2nd quarter. Principal Financial Group Inc. now owns 17,951 shares of the company’s stock worth $33,000 after acquiring an additional 4,448 shares during the last quarter. Institutional investors own 36.23% of the company’s stock.

About Canoo

Canoo Inc, a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an EV.