In the latest trading session, 1.58 million Canoo Inc (NASDAQ:GOEV) shares changed hands as the company’s beta touched 1.31. With the company’s most recent per share price at $1.41 changed hands at -$0.09 or -6.00% at last look, the market valuation stands at $109.82M. GOEV’s current price is a discount, trading about -1031.91% off its 52-week high of $15.96. The share price had its 52-week low at $1.22, which suggests the last value was 13.48% up since then. When we look at Canoo Inc’s average trading volume, we note the 10-day average is 3.46 million shares, with the 3-month average coming to 3.72 million.
Analysts gave the Canoo Inc (GOEV) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.67. If we narrow down to specifics, the data shows that 0 out of 4 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, 3 felt it is a Buy and 0 rated the stock as Underweight. Canoo Inc’s EPS for the current quarter is expected to be -0.8.
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Canoo Inc (NASDAQ:GOEV) trade information
Instantly GOEV was in red as seen in intraday trades today. With action -9.03%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -76.16%, with the 5-day performance at -9.03% in the red. However, in the 30-day time frame, Canoo Inc (NASDAQ:GOEV) is -38.70% down. Looking at the short shares, we see there were 9.72 million shares sold at short interest cover period of 3.3 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3, meaning bulls need an upside of 53.0% from its recent market value. According to analyst projections, GOEV’s forecast low is 1.5 with 4.5 as the target high. To hit the forecast high, the stock’s price needs a -219.15% plunge from its current level, while the stock would need to soar -6.38% 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 -56.49% over the past 6 months, a 57.86% in annual growth rate that is considerably higher than the industry average of -1.70%. Year-over-year growth is forecast to reach 6,877.40% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 11.25M. 5 analysts are of the opinion that Canoo Inc’s revenue for the current quarter will be 46.68M. The company’s revenue for the corresponding quarters a year ago was 519k and 367k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 2,067.60%. The estimates for the next quarter sales put growth at 12,619.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -482.58%. The 2024 estimates are for Canoo Inc earnings to increase by 65.98%.
GOEV Dividends
Canoo Inc is expected to release its next quarterly earnings report in September.
Canoo Inc (NASDAQ:GOEV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.92% of Canoo Inc shares while 25.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 26.74%. There are 25.16% institutions holding the Canoo Inc stock share, with HBW ADVISORY SERVICES LLC the top institutional holder. As of 2024-03-31, the company held 0.1066% of the shares, roughly 26701.0 GOEV shares worth $7000.0.
ARMSTRONG ADVISORY GROUP, INC holds the second largest percentage of outstanding shares, with 0.0048% or 1200.0 shares worth $309.0 as of 2024-03-31.
Among Mutual Funds, the top two as of Jun 30, 2024 were iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. With 1.42 shares estimated at $2.01 million under it, the former controlled 1.82% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.38% of the shares, roughly 1.08 shares worth around $1.53 million.
