Canoo’s (GOEV) Neutral Rating Reaffirmed at Alliance Global Partners

Alliance Global Partners reissued their neutral rating on shares of Canoo (NASDAQ:GOEV) in a research note issued to investors on Monday morning,Benzinga reports.

GOEV has been the topic of several other reports. Stifel Nicolaus lowered shares of Canoo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $4.50 to $0.50 in a research report on Tuesday, December 31st. HC Wainwright lowered their price target on Canoo from $80.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $108.10.

Canoo Trading Down 5.9 %

GOEV opened at $1.27 on Monday. The business has a 50 day moving average of $6.56 and a 200-day moving average of $22.25. The stock has a market capitalization of $6.15 million, a price-to-earnings ratio of -0.36 and a beta of 1.30. Canoo has a 1-year low of $1.24 and a 1-year high of $141.68.

Institutional Trading of Canoo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOEV. The Manufacturers Life Insurance Company bought a new position in Canoo during the second quarter worth about $35,000. Point72 DIFC Ltd bought a new position in shares of Canoo during the 2nd quarter worth approximately $37,000. XTX Topco Ltd boosted its stake in Canoo by 191.7% in the 3rd quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock valued at $31,000 after buying an additional 20,805 shares in the last quarter. Headlands Technologies LLC bought a new stake in Canoo in the second quarter valued at $60,000. Finally, CIBC Asset Management Inc acquired a new position in Canoo during the second quarter worth $67,000. Institutional investors own 36.23% of the company’s stock.

Canoo Company Profile

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.