Canoo Inc (NASDAQ: GOEV) – Not A Clear Buying Opportunity?

Canoo Inc (GOEV) concluded trading on Thursday at a closing price of $0.37, with 7.99 million shares of worth about $2.96 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -82.44% during that period and on November 28, 2024 the price saw a loss of about -8.04%. Currently the company’s common shares owned by public are about 96.78M shares, out of which, 88.33M shares are available for trading.

Stock saw a price change of -23.50% in past 5 days and over the past one month there was a price change of -58.47%. Year-to-date (YTD), GOEV shares are showing a performance of -93.79% which decreased to -95.37% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.37 but also hit the highest price of $8.27 during that period. The average intraday trading volume for Canoo Inc shares is 5.08 million. The stock is currently trading -27.05% below its 20-day simple moving average (SMA20), while that difference is down -52.76% for SMA50 and it goes to -80.50% lower than SMA200.

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Canoo Inc (NASDAQ: GOEV) currently have 96.78M outstanding shares and institutions hold larger chunk of about 17.35% of that.

The stock has a current market capitalization of $32.67M and its 3Y-monthly beta is at 1.16. It has posted earnings per share of -$3.48 in the same period. It has Quick Ratio of 0.09 while making debt-to-equity ratio of 0.34. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GOEV, volatility over the week remained 11.98% while standing at 19.07% over the month.

Stock’s fiscal year EPS is expected to rise by 82.63% while it is estimated to increase by 24.17% in next year.

Coverage by The Benchmark Company stated Canoo Inc (GOEV) stock as a Buy in their note to investors on April 17, 2024, suggesting a price target of $5 for the stock. On January 05, 2024, Wedbush Initiated their recommendations, while on September 16, 2022, Stifel Initiated their ratings for the stock with a price target of $4. Stock get a Buy rating from ROTH Capital on December 16, 2021.

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