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At $0.57 Canoo Inc. (NASDAQ: GOEV) Is Worth A Gamble

Canoo Inc. (NASDAQ:GOEV)’s traded shares stood at 23.53 million during the last session, with the company’s beta value hitting 1.25. At the close of trading, the stock’s price was $0.57, to imply a decrease of -3.05% or -$0.01 in intraday trading. The GOEV share’s 52-week high remains $6.25, putting it -996.49% down since that peak but still an impressive 3.51% since price per share fell to its 52-week low of $0.55. The company has a valuation of $250.22M, with an average of 26.49 million shares in intraday trading volume over the past 10 days and average of 19.21 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Canoo Inc. (GOEV), translating to a mean rating of 2.00. Of 3 analyst(s) looking at the stock, 0 analyst(s) give GOEV a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.35.

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Canoo Inc. (NASDAQ:GOEV) trade information

After registering a -3.05% downside in the last session, Canoo Inc. (GOEV) has traded red over the past five days. The stock hit a weekly high of 0.6550 this Wednesday, 03/15/23, dropping -3.05% in its intraday price action. The 5-day price performance for the stock is -8.72%, and -37.38% over 30 days. With these gigs, the year-to-date price performance is -53.97%. Short interest in Canoo Inc. (NASDAQ:GOEV) saw shorts transact 51.55 million shares and set a 4.59 days time to cover.

Analysts on Wall Street suggest a consensus price target of $5.67, implying an increase of 89.95% to the stock’s current value. The extremes give us $1.00 and $10.00 for target low and target high price respectively. As such, GOEV has been trading -1654.39% off suggested target high and -75.44% from its likely low.

Canoo Inc. (GOEV) estimates and forecasts

Revenue is forecast to grow 41.70% this quarter before jumping 22.20% for the next one.

Meanwhile, for the quarter ending Mar 2023, a total of 1 analyst(s) estimate revenue growth to $25 million.

GOEV Dividends

Canoo Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Canoo Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Canoo Inc. (NASDAQ:GOEV)’s Major holders

Canoo Inc. insiders hold 15.25% of total outstanding shares, with institutional holders owning 25.33% of the shares at 29.89% float percentage. In total, 25.33% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 16.78 million shares (or 4.71% of shares), all amounting to roughly $31.46 million.

The next major institution holding the largest number of shares is Blackrock Inc. with 9.78 million shares, or about 2.74% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $18.34 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund as the top two Mutual Funds with the largest holdings of the Canoo Inc. (GOEV) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 5.9 million shares. This is just over 1.65% of the total shares, with a market valuation of $11.06 million. Data from the same date shows that the other fund manager holds a little less at 4.86 million, or 1.36% of the shares, all valued at about 9.11 million.

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