Canoo (NASDAQ:GOEV) Trading 0.3% Higher

Canoo Inc. (NASDAQ:GOEV)’s stock price traded up 0.3% during trading on Wednesday . The company traded as high as $3.49 and last traded at $2.94. 6,294,327 shares were traded during trading, a decline of 18% from the average session volume of 7,703,346 shares. The stock had previously closed at $2.93.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GOEV shares. Alliance Global Partners decreased their target price on shares of Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a research report on Friday, March 15th. Wedbush started coverage on Canoo in a research report on Friday, January 5th. They set an “outperform” rating and a $92.00 price target on the stock. Finally, Stifel Nicolaus dropped their price objective on Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

Canoo Stock Performance

The company has a market cap of $191.27 million, a P/E ratio of -0.22 and a beta of 1.23. The stock’s fifty day moving average price is $2.79 and its two-hundred day moving average price is $4.93.

Institutional Investors Weigh In On Canoo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Canoo by 49.1% during the 1st quarter. BlackRock Inc. now owns 18,750,337 shares of the company’s stock worth $12,236,000 after buying an additional 6,178,847 shares in the last quarter. Vanguard Group Inc. raised its stake in Canoo by 29.4% during the third quarter. Vanguard Group Inc. now owns 25,131,977 shares of the company’s stock worth $12,315,000 after acquiring an additional 5,709,224 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Canoo during the first quarter worth about $2,780,000. State Street Corp lifted its holdings in shares of Canoo by 122.7% in the first quarter. State Street Corp now owns 6,342,854 shares of the company’s stock worth $4,139,000 after acquiring an additional 3,494,923 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Canoo by 57.7% in the 1st quarter. Geode Capital Management LLC now owns 6,297,765 shares of the company’s stock valued at $4,110,000 after purchasing an additional 2,303,981 shares in 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.