In the last trading session, 4.24 million shares of the Canoo Inc (NASDAQ:GOEV) were traded, and its beta was 1.18. Most recently the company’s share price was $2.13, and it changed around -$0.15 or -6.46% from the last close, which brings the market valuation of the company to $103.16M. GOEV currently trades at a discount to its 52-week high of $19.50, offering almost -815.49% off that amount. The share price’s 52-week low was $1.84, which indicates that the current value has risen by an impressive 13.62% since then. We note from Canoo Inc’s average daily trading volume that its 10-day average is 4.68 million shares, with the 3-month average coming to 2.94 million.
Canoo Inc (NASDAQ:GOEV) trade information
Instantly GOEV has showed a red trend with a performance of -6.46% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -63.99% year-to-date, but still down -11.72% over the last five days. On the other hand, Canoo Inc (NASDAQ:GOEV) is -43.87% down in the 30-day period. We can see from the shorts that 6.24 million shares have been sold at a short interest cover period of 2.15 day(s).
The consensus price target as assigned by Wall Street analysts is $17, which translates to bulls needing to increase their stock price by 87.47% from its current value. Analyst projections state that GOEV is forecast to be at a low of $17 and a high of $17.
Canoo Inc (GOEV) estimates and forecasts
Canoo Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -82.75 percent over the past six months and at a -607.33% annual growth rate that is well below the industry average of 12.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 68.00% in revenue this quarter, and will report an increase of 59.10% in the next quarter.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $720k in revenue for the current quarter. 4 analysts expect Canoo Inc to make $11.9 million in revenue for the quarter ending Mar 2024.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -1132.83%.
GOEV Dividends
Canoo Inc’s next quarterly earnings report is expected to be released around March 28 and April 01.
Canoo Inc (NASDAQ:GOEV)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.89% of Canoo Inc shares, and 13.45% of them are in the hands of institutional investors. The stock currently has a share float of 13.85%. Canoo Inc stock is held by 152 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 3.06% of the shares, which is about 19.42 million shares worth $9.31 million.
Infini Capital Management Ltd, with 2.64% or 16.74 million shares worth $10.92 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 13.19 million shares worth $6.32 million, making up 2.08% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 4.15 million shares worth around $1.99 million, which represents about 0.65% of the total shares outstanding.
