Canoo (NASDAQ:GOEV) PT Lowered to $3.00 at Roth Mkm

Canoo (NASDAQ:GOEV) had its price target lowered by Roth Mkm from $4.00 to $3.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on GOEV. Alliance Global Partners cut their price target on shares of Canoo from $20.00 to $18.50 and set a buy rating on the stock in a report on Friday, March 15th. Benchmark reissued a buy rating and set a $5.00 target price on shares of Canoo in a research note on Wednesday. HC Wainwright reaffirmed a buy rating and issued a $7.00 target price on shares of Canoo in a research report on Wednesday. Stifel Nicolaus dropped their price target on Canoo from $34.50 to $17.25 and set a buy rating on the stock in a research report on Tuesday, January 23rd. Finally, R. F. Lafferty downgraded Canoo from a buy rating to a hold rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $23.79.

Canoo Stock Performance

Shares of NASDAQ GOEV opened at $2.78 on Wednesday. Canoo has a 52-week low of $1.22 and a 52-week high of $19.50. The stock’s fifty day simple moving average is $2.77 and its 200 day simple moving average is $4.17.

Canoo (NASDAQ:GOEV) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same period in the previous year, the firm earned ($3.91) earnings per share. Analysts predict that Canoo will post -3.71 EPS for the current year.

Hedge Funds Weigh In On Canoo

A number of hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in Canoo during the first quarter valued at $900,000. SG Americas Securities LLC increased its position in Canoo by 95.6% in the 1st quarter. SG Americas Securities LLC now owns 22,065 shares of the company’s stock worth $79,000 after purchasing an additional 10,786 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Canoo by 269.3% during the 4th quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock worth $257,000 after purchasing an additional 729,236 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Canoo during the 3rd quarter valued at about $72,000. Finally, Swiss National Bank increased its holdings in Canoo by 20.5% in the third quarter. Swiss National Bank now owns 935,200 shares of the company’s stock worth $458,000 after buying an additional 159,400 shares during the last quarter. 36.23% of the stock is owned by institutional investors and hedge funds.

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.