With over 52.8 million Canoo Inc (GOEV) shares trading Friday and a closing price of $0.20 on the day, the dollar volume was approximately $10.56 million. The shares have shown a negative half year performance of -71.25% and its price on 01/12/24 lost nearly -3.47%. Currently, there are 872.04M common shares owned by the public and among those 728.33M shares have been available to trade.
Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 17,440,092 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 49,564 shares.
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However, the script later moved the day high at 0.2142, down -3.47%. The company’s stock has a 5-day price change of -14.69% and -39.69% over the past three months. GOEV shares are trading -21.00% year to date (YTD), with the 12-month market performance down to -82.92% lower. It has a 12-month low price of $0.21 and touched a high of $1.47 over the same period. GOEV has an average intraday trading volume of 35.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -15.48%, -23.03%, and -57.57% respectively.
Institutional ownership of Canoo Inc (NASDAQ: GOEV) shares accounts for 9.17% of the company’s 872.04M shares outstanding.
It has a market capitalization of $177.20M and a beta (3y monthly) value of 1.31. The earnings-per-share (ttm) stands at -$0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.86% over the week and 9.11% over the month.
Analysts forecast that Canoo Inc (GOEV) will achieve an EPS of -$0.08 for the current quarter, -$0.09 for the next quarter and -$0.43 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.25 a year ago. Earnings per share for the fiscal year are expected to increase by 66.58%, and 28.16% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Canoo Inc (GOEV) as a “Strong Buy” at a consensus score of 1.33. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GOEV, a number of firms have released research notes about the stock. Wedbush stated their Outperform rating for the stock in a research note on January 05, 2024, with the firm’s price target at $4.
