In the last trading session, 30.58 million Canoo Inc. (NASDAQ:GOEV) shares changed hands as the company’s beta touched 1.22. With the company’s per share price at $0.48 changed hands at -$0.03 or -5.45% during last session, the market valuation stood at $320.63M. GOEV’s last price was a discount, traded about -508.33% off its 52-week high of $2.92. The share price had its 52-week low at $0.41, which suggests the last value was 14.58% up since then. When we look at Canoo Inc.’s average trading volume, we note the 10-day average is 17.72 million shares, with the 3-month average coming to 38.68 million.
Analysts gave the Canoo Inc. (GOEV) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended GOEV as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Canoo Inc.’s EPS for the current quarter is expected to be -$0.12.
Canoo Inc. (NASDAQ:GOEV) trade information
Instantly GOEV was in red as seen at the end of in last trading. With action -2.90%, the performance over the past five days has been red. The drop to weekly highs of 0.5671 on Friday, 09/15/23 subtracted -5.45% to the stock’s daily price. The company’s shares are showing year-to-date downside of -60.80%, with the 5-day performance at -2.90% in the red. However, in the 30-day time frame, Canoo Inc. (NASDAQ:GOEV) is 10.29% up. Looking at the short shares, we see there were 66.51 million shares sold at short interest cover period of 1.83 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.11, meaning bulls need an upside of 84.57% from its current market value. According to analyst projections, GOEV’s forecast low is $0.50 with $10.00 as the target high. To hit the forecast high, the stock’s price needs a -1983.33% plunge from its current level, while the stock would need to soar -4.17% for it to hit the projected low.
Canoo Inc. (GOEV) estimates and forecasts
Data shows that the Canoo Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -18.27% over the past 6 months, a 69.63% in annual growth rate that is considerably higher than the industry average of 15.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Canoo Inc. will rise 72.10%, while the growth in revenue is estimated to hit 56.00% for the next quarter.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $610k. 4 analysts are of the opinion that Canoo Inc.’s revenue for the quarter ending Dec 2023 will be $19.41 million. The company’s revenue for the corresponding quarters a year ago was $5 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -87.80%.
The 2023 estimates are for Canoo Inc. earnings to decrease by -18.80%.
Canoo Inc. is expected to release its next quarterly earnings report in October.