Canoo Inc (NASDAQ: GOEV) stock jumped 20.66% on Monday to $0.36 against a previous-day closing price of $0.30. With 102.13 million shares changed hands, the volume of the stock remained heavier than its average volume of 23.88 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.3830 whereas the lowest price it dropped to was $0.3161. The 52-week range on GOEV shows that it touched its highest point at $1.49 and its lowest point at $0.22 during that stretch. It currently has a 1-year price target of $1.61. Beta for the stock currently stands at 1.33.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GOEV was up-trending over the past week, with a rise of 43.97%, but this was up by 38.75% over a month. Three-month performance dropped to -29.36% while six-month performance fell -44.07%. The stock lost -70.90% in the past year, while it has lost -70.42% so far this year. A look at the trailing 12-month EPS for GOEV yields -0.78 with Next year EPS estimates of -0.39. For the next quarter, that number is -0.09. This implies an EPS growth rate of 66.85% for this year and 35.33% for next year.
Float and Shares Shorts:
At present, 726.30 million GOEV shares are outstanding with a float of 591.89 million shares on hand for trading. On Oct 30, 2023, short shares totaled 75.55 million, which was 10.72% higher than short shares on Sep 28, 2023. In addition to Mr. Anthony Aquila as the firm’s Executive Chairman & CEO, Ambassador Josette Sheeran serves as its President & Director.
Institutional Ownership:
Through their ownership of 30.24% of GOEV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.24% of GOEV, in contrast to 5.34% held by mutual funds. Shares owned by individuals account for 23.95%. As the largest shareholder in GOEV with 3.55% of the stake, The Vanguard Group, Inc. holds 24,672,673 shares worth 24,672,673. A second-largest stockholder of GOEV, Infini Capital Management Ltd., holds 16,740,371 shares, controlling over 2.41% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in GOEV, holding 9,486,012 shares or 1.37% stake. With a 2.27% stake in GOEV, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 15,747,112 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.02% of GOEV stock, is the second-largest Mutual Fund holder. It holds 7,109,196 shares valued at 1.95 million. Fidelity Extended Market Index Fu holds 0.32% of the stake in GOEV, owning 2,243,977 shares worth 0.61 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GOEV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GOEV analysts setting a high price target of $3.00 and a low target of $0.30, the average target price over the next 12 months is $1.61. Based on these targets, GOEV could surge 733.33% to reach the target high and fall by -16.67% to reach the target low. Reaching the average price target will result in a growth of 347.22% from current levels.
Summary of Insider Activity:
Insiders traded GOEV stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 25,629 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 15,512,589 while 94,020 shares were sold.
