Canoo (NASDAQ:GOEV) Trading Down 5.8%

Canoo Inc. (NASDAQ:GOEV)’s stock price traded down 5.8% on Monday . The stock traded as low as $2.21 and last traded at $2.26. 820,964 shares were traded during trading, a decline of 89% from the average session volume of 7,594,583 shares. The stock had previously closed at $2.40.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Alliance Global Partners reduced their price target on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a report on Friday, March 15th. Wedbush assumed coverage on Canoo in a report on Friday, January 5th. They set an “outperform” rating and a $92.00 price target for the company. Finally, Stifel Nicolaus reduced their price target on Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

Canoo Trading Up 18.1 %

The firm has a fifty day moving average of $2.79 and a 200 day moving average of $4.93. The company has a market capitalization of $188.69 million, a P/E ratio of -0.22 and a beta of 1.23.

Institutional Investors Weigh In On Canoo

Large investors have recently bought and sold shares of the business. Swiss National Bank increased its holdings in Canoo by 20.5% in the 3rd quarter. Swiss National Bank now owns 935,200 shares of the company’s stock worth $458,000 after buying an additional 159,400 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Canoo in the third quarter worth about $72,000. MBL Wealth LLC purchased a new position in Canoo in the third quarter worth about $53,000. Kestra Private Wealth Services LLC boosted its position in Canoo by 36.9% in the third quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock worth $85,000 after purchasing an additional 47,000 shares during the last quarter. Finally, Arete Wealth Advisors LLC boosted its position in 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 purchasing an additional 41,100 shares during the last quarter. 36.23% of the stock is currently owned by institutional investors.

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.