Why Canoo Inc (NASDAQ: GOEV) Stock Shouldn’t Be Ignored In 2024

In the last trading session, 2.8 million shares of the Canoo Inc (NASDAQ:GOEV) were traded, and its beta was 1.31. Most recently the company’s share price was $2.68, and it changed around $0.16 or 6.35% from the last close, which brings the market valuation of the company to $190.82M. GOEV currently trades at a discount to its 52-week high of $19.50, offering almost -627.61% off that amount. The share price’s 52-week low was $1.22, which indicates that the current value has risen by an impressive 54.48% since then. We note from Canoo Inc’s average daily trading volume that its 3-month average coming to 4.28 million.

Canoo Inc (NASDAQ:GOEV) trade information

Instantly GOEV has showed a green trend with a performance of 6.35% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -54.70% year-to-date, but still up 18.58% over the last five days. On the other hand, Canoo Inc (NASDAQ:GOEV) is 32.02% up in the 30-day period.

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The consensus price target as assigned by Wall Street analysts is $3.75, which translates to bulls needing to increase their stock price by 28.53% from its current value. Analyst projections state that GOEV is forecast to be at a low of $3 and a high of $4.5.

Canoo Inc (GOEV) estimates and forecasts

Canoo Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -44.65 percent over the past six months and at a 55.09% annual growth rate that is well above the industry average of 4.90%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -482.58%.

GOEV Dividends

Canoo Inc’s next quarterly earnings report is expected to be released in August.