Canoo Inc (NASDAQ: GOEV) Forecasts And Short-Term Estimates

In the last trading session, 39.29 million Canoo Inc (NASDAQ:GOEV) shares changed hands as the company’s beta touched 1.27. With the company’s per share price at $0.30 changed hands at $0.04 or 15.96% during last session, the market valuation stood at $218.98M. GOEV’s last price was a discount, traded about -396.67% off its 52-week high of $1.49. The share price had its 52-week low at $0.22, which suggests the last value was 26.67% up since then. When we look at Canoo Inc’s average trading volume, we note the 10-day average is 30.65 million shares, with the 3-month average coming to 23.60 million.

Canoo Inc (NASDAQ:GOEV) trade information

Instantly GOEV was in green as seen at the end of in last trading. With action 23.06%, the performance over the past five days has been green. The jump to weekly highs of 0.3269 on Friday, 11/17/23 added 15.96% to the stock’s daily price. The company’s shares are showing year-to-date downside of -75.49%, with the 5-day performance at 23.06% in the green. However, in the 30-day time frame, Canoo Inc (NASDAQ:GOEV) is 7.68% up. Looking at the short shares, we see there were 75.55 million shares sold at short interest cover period of 4.12 days.

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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 -55.01% over the past 6 months, a 69.11% in annual growth rate that is considerably higher than the industry average of 15.20%. 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 68.00%, while the growth in revenue is estimated to hit 63.60% 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 $870k. 3 analysts are of the opinion that Canoo Inc’s revenue for the quarter ending Mar 2024 will be $27.6 million.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -1059.54%. The 2023 estimates are for Canoo Inc earnings to increase by 66.85%.

GOEV Dividends

Canoo Inc is expected to release its next quarterly earnings report on November 14.

Canoo Inc (NASDAQ:GOEV)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 11.30% of Canoo Inc shares while 30.24% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 34.09%. There are 30.24% institutions holding the Canoo Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 3.06% of the shares, roughly 19.42 million GOEV shares worth $9.31 million.

Infini Capital Management Ltd holds the second largest percentage of outstanding shares, with 2.64% or 16.74 million shares worth $10.92 million as of Mar 30, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 13.19 million shares estimated at $6.32 million under it, the former controlled 2.08% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.65% of the shares, roughly 4.15 million shares worth around $1.99 million.

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