Canoo (NYSE:GOEV) Shares Gap Up to $10.71

Shares of Canoo Inc. (NYSE:GOEV) gapped up before the market opened on Wednesday . The stock had previously closed at $10.71, but opened at $11.43. Canoo shares last traded at $11.33, with a volume of 225,384 shares changing hands.

Several equities analysts recently commented on the stock. Roth Capital lowered shares of Canoo from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $30.00 to $12.00 in a research report on Tuesday, March 30th. Zacks Investment Research lowered shares of Canoo from a “hold” rating to a “sell” rating in a research report on Friday, May 21st. Bank of America assumed coverage on shares of Canoo in a research report on Tuesday, April 20th. They issued an “underperform” rating and a $6.00 price objective for the company. Finally, R. F. Lafferty decreased their price objective on shares of Canoo from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, March 30th.

The company has a debt-to-equity ratio of 0.01, a current ratio of 18.05 and a quick ratio of 18.05. The company has a market capitalization of $2.32 billion, a PE ratio of -7.02 and a beta of 0.24. The firm’s 50-day moving average is $8.47.

Canoo (NYSE:GOEV) last posted its quarterly earnings results on Monday, May 17th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.16. As a group, equities research analysts predict that Canoo Inc. will post -1.23 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of GOEV. CenterStar Asset Management LLC purchased a new position in Canoo during the 1st quarter worth approximately $40,000. Close Asset Management Ltd purchased a new position in Canoo during the 1st quarter worth approximately $46,000. Wells Fargo & Company MN purchased a new position in Canoo during the 4th quarter worth approximately $62,000. Trustcore Financial Services LLC acquired a new stake in shares of Canoo during the 4th quarter worth approximately $69,000. Finally, Exane Derivatives acquired a new stake in shares of Canoo during the 1st quarter worth approximately $73,000. 9.48% of the stock is owned by institutional investors.

About Canoo (NYSE:GOEV)

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 B2B delivery vehicles, multi-purpose delivery vehicles, and lifestyle vehicles using skateboard architecture technology.

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