Canoo Inc. (NASDAQ:GOEV – Get Free Report) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 9,870,000 shares, a growth of 6.9% from the May 31st total of 9,230,000 shares. Approximately 15.5% of the shares of the stock are sold short. Based on an average trading volume of 5,010,000 shares, the short-interest ratio is presently 2.0 days.
Canoo Stock Performance
Canoo stock opened at $2.23 on Thursday. The firm has a market cap of $152.91 million, a price-to-earnings ratio of -0.21 and a beta of 1.28. Canoo has a 52-week low of $1.22 and a 52-week high of $19.50. The firm has a 50 day moving average price of $2.32 and a two-hundred day moving average price of $3.16.
Canoo (NASDAQ:GOEV – Get Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same period last year, the company earned ($3.91) EPS. As a group, equities research analysts predict that Canoo will post -4.37 EPS for the current fiscal year.
Institutional Trading of Canoo
Wall Street Analyst Weigh In
Several equities analysts have commented on GOEV shares. Alliance Global Partners dropped their target price on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research report on Friday, March 15th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Canoo in a report on Wednesday, May 15th. R. F. Lafferty lowered shares of Canoo from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Canoo in a research report on Wednesday, May 22nd. Finally, Roth Mkm reduced their price objective on shares of Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Canoo presently has an average rating of “Moderate Buy” and an average price target of $23.79.
Get Our Latest Stock Analysis on Canoo
About Canoo
Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.
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