Canoo Inc. (NYSE:GOEV – Get Free Report)’s stock price rose 9.8% during mid-day trading on Friday . The stock traded as high as $3.74 and last traded at $3.57. Approximately 10,708,591 shares changed hands during trading, a decline of 37% from the average daily volume of 17,129,426 shares. The stock had previously closed at $3.25.
Analyst Upgrades and Downgrades
GOEV has been the topic of several analyst reports. Wedbush initiated coverage on Canoo in a research report on Friday, January 5th. They set an “outperform” rating and a $92.00 target price on the stock. Stifel Nicolaus cut their target price on Canoo from $34.50 to $17.25 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Finally, Alliance Global Partners cut their price objective on Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a research report on Friday, March 15th.
Get Our Latest Stock Report on GOEV
Canoo Price Performance
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Canoo by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 26,036,884 shares of the company’s stock valued at $6,697,000 after purchasing an additional 904,907 shares during the period. BlackRock Inc. raised its stake in shares of Canoo by 49.1% during the 1st quarter. BlackRock Inc. now owns 18,750,337 shares of the company’s stock valued at $12,236,000 after purchasing an additional 6,178,847 shares during the period. State Street Corp raised its stake in shares of Canoo by 122.7% during the 1st quarter. State Street Corp now owns 6,342,854 shares of the company’s stock valued at $4,139,000 after purchasing an additional 3,494,923 shares during the period. Geode Capital Management LLC increased its stake in Canoo by 57.7% in the 1st quarter. Geode Capital Management LLC now owns 6,297,765 shares of the company’s stock worth $4,110,000 after acquiring an additional 2,303,981 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Canoo in the 1st quarter worth about $2,780,000. Hedge funds and other 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.
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