Canoo (NASDAQ:GOEV) Trading 1.4% Higher

Canoo Inc. (NASDAQ:GOEV)’s share price traded up 1.4% on Monday . The stock traded as high as $3.00 and last traded at $2.89. 1,294,864 shares traded hands during trading, a decline of 83% from the average session volume of 7,588,944 shares. The stock had previously closed at $2.85.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GOEV shares. Alliance Global Partners lowered their price objective on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research report on Friday, March 15th. Stifel Nicolaus lowered their price objective on Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Wedbush initiated coverage on Canoo in a research report on Friday, January 5th. They issued an “outperform” rating and a $92.00 price objective for the company. Finally, Benchmark initiated coverage on Canoo in a report on Wednesday, April 17th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Canoo presently has a consensus rating of “Buy” and a consensus target price of $49.19.

Canoo Price Performance

The stock has a fifty day moving average of $2.74 and a two-hundred day moving average of $4.68.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GOEV. Arete Wealth Advisors LLC lifted its stake in shares of Canoo by 114.5% in the third quarter. Arete Wealth Advisors LLC now owns 77,000 shares of the company’s stock worth $38,000 after acquiring an additional 41,100 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Canoo in the third quarter valued at about $72,000. Kestra Private Wealth Services LLC increased its holdings in Canoo by 36.9% in the third quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after buying an additional 47,000 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Canoo in the third quarter valued at about $133,000. Finally, Swiss National Bank boosted its position in shares of Canoo by 20.5% during the third quarter. Swiss National Bank now owns 935,200 shares of the company’s stock worth $458,000 after buying an additional 159,400 shares during the period. Institutional investors and hedge funds own 36.23% of the company’s stock.

Canoo Company Profile

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.