Canoo (NASDAQ:GOEV) Trading 1.4% Higher

Canoo Inc. (NASDAQ:GOEV) traded up 1.4% during trading on Monday . The stock traded as high as $3.00 and last traded at $2.89. 1,294,864 shares changed hands during trading, a decline of 83% from the average session volume of 7,588,944 shares. The stock had previously closed at $2.85.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus reduced their price target on Canoo from $34.50 to $17.25 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Benchmark started coverage on Canoo in a research report on Wednesday, April 17th. They issued a “buy” rating for the company. Wedbush started coverage on Canoo in a research report on Friday, January 5th. They issued an “outperform” rating and a $92.00 price objective for the company. Finally, Alliance Global Partners cut their price objective on Canoo from $20.00 to $18.50 and set a “buy” rating for the company in a research report on Friday, March 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $49.19.

Canoo Stock Performance

The stock has a 50 day simple moving average of $2.74 and a 200 day simple moving average of $4.68.

Hedge Funds Weigh In On Canoo

A number of hedge funds have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC increased its stake in shares of Canoo by 269.3% in the 4th quarter. EP Wealth Advisors LLC now owns 1,000,000 shares of the company’s stock valued at $257,000 after purchasing an additional 729,236 shares during the last quarter. Swiss National Bank increased its stake in shares of Canoo by 20.5% in the 3rd quarter. Swiss National Bank now owns 935,200 shares of the company’s stock valued at $458,000 after purchasing an additional 159,400 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Canoo in the 3rd quarter valued at $72,000. Kestra Private Wealth Services LLC increased its stake in shares of Canoo by 36.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after purchasing an additional 47,000 shares during the last quarter. Finally, Arete Wealth Advisors LLC grew its position in Canoo by 114.5% during the 3rd quarter. Arete Wealth Advisors LLC now owns 77,000 shares of the company’s stock worth $38,000 after acquiring an additional 41,100 shares during the last quarter. Institutional investors own 36.23% of the company’s stock.

Canoo Company Profile

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.