Brokerages Set Canoo Inc. (NASDAQ:GOEV) Price Target at $22.71

Canoo Inc. (NASDAQ:GOEV) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $454.17.

Separately, HC Wainwright lowered their target price on Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 15th.

Canoo Stock Down 0.6 %

Shares of GOEV stock opened at $1.54 on Thursday. Canoo has a 52 week low of $1.37 and a 52 week high of $141.68. The firm has a 50 day moving average of $8.65 and a two-hundred day moving average of $23.91. The stock has a market capitalization of $7.45 million, a PE ratio of -0.44 and a beta of 1.14.

Institutional Investors Weigh In On Canoo

Several institutional investors have recently modified their holdings of GOEV. The Manufacturers Life Insurance Company purchased a new position in Canoo in the second quarter valued at $35,000. Point72 DIFC Ltd acquired a new position in shares of Canoo during the 2nd quarter worth about $37,000. XTX Topco Ltd boosted its position in shares of Canoo by 191.7% during the 3rd quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock worth $31,000 after acquiring an additional 20,805 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Canoo in the 2nd quarter valued at about $60,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Canoo during the 2nd quarter worth about $67,000. 36.23% of the stock is owned by hedge funds and other institutional investors.

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.