The Price Of Canoo Inc. (GOEV) Has Climbed $50.68 Past Week

The stock of Canoo Inc. (NASDAQ:GOEV) decreased by -$0.14 on Tuesday to finish at $3.10, down -4.32 percent. The last five days have seen an average of 2,147,880 shares of common stock traded. 1 time new highs were reached in the current year, with a fall of -$4.62. The average number of shares traded over the last 20 days was 2,646,175, while the average volume over the last 50 days totaled 2,371,118.

GOEV stock dropped -40.15% since last month. On 05/12/22, the company’s shares reached a one-month low of $2.55. The stock touched a high of $13.35 on 01/03/22, after rallying from a low of $2.55 in 52 weeks. The price of GOEV stock has declined by -59.84% or -$4.62 this year, reaching a new high 1 time. Still, the stock price is down -76.78% from the 52-week high.


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Insider Transactions

There have been 5 days since Canoo Inc. (GOEV) last reported insider trading activity on May 20. On May 20, SVP, ICFO and CAO MURTHY RAMESH sold 439 shares at $3.67 each. This transaction resulted in the insider making $1,611. On Mar 15, DD Global Holdings Ltd sold 10,500,000 shares at a price of US$6.53. After the transaction, the insider now owns 14,125,801 shares. Director DATTILO THOMAS A had earlier bought 50,000 shares on Mar 04 for $5.20 a share. The transaction was completed for $260,000.

Financial Health

For the three months ended March 30, Canoo Inc.’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GOEV’s return on assets (ROA) during the last 12 months has been -80.50%. In the meantime, the return on equity (ROE) for the last 12 months was -115.90%.

Earnings Surprise

According to Canoo Inc.’s quarterly financial report for the quarter that ended March 30. It was predicted that Canoo Inc.’s quarterly earnings would be -$0.54, but it ended up being -$0.5, beating the consensus by -8.00%. At the end of Canoo Inc.’s most recent quarter ended March 30, its liabilities totaled 172.25 million, while its total debt was $14.61 million. Equity owned by shareholders amounts to $240.41 million.

Technical Picture

Here’s a quick look at Canoo Inc.’s (GOEV) price momentum from a technical perspective. As of 24 May, the RSI 9-day stood at 33.31%, suggesting the stock is Neutral, with a 100.27% historical volatility rate.

The stochastic %K and %D were 29.03% and 34.29% respectively, while the average true range (ATR) was 0.38. Based on the 14-day stochastic reading of 23.76%, the RSI (14) reading is 34.29%. On the 9-day MACD Oscillator, the stock is at -0.09, and the 14-day reading is at -0.27.

Analyst Ratings

In its most recent analyst report, ROTH Capital raised its rating on Canoo Inc. (NASDAQ: GOEV) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Canoo Inc. (GOEV) an Overweight rating. GOEV is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.

What is GOEV’s price target for the next 12 months?

The current consensus forecast for the stock is between $3.00 and $20.00, with a median target price of $11.00. In analyzing these forecasts, the average price target given by analysts for Canoo Inc. (GOEV) is $11.25.

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