What’s Canoo Inc. (GOEV)’s Price to Earnings Ratio?


Canoo Inc. (NASDAQ:GOEV) saw an upside of 7.26% to close Monday at $1.33 after adding $0.09 on the day. The 5-day average trading volume is 6,775,660 shares of the company’s common stock. It has gained $1.3800 in the past week and touched a new high 1 time within the past 5 days. An average of 7,557,860 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 10,364,504.

GOEV’s 1-month performance is 13.68% or $0.1700 on its low of $1.0400 reached on 12/29/22. The company’s shares have touched a 52-week low of $1.02 and high of $6.46, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, GOEV has achieved 8.13% or $0.1000 and has reached a new high 5 times. However, the current price is down -79.41% from the 52-week high price.

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Insider Transactions

GOEV stock investors last saw insider trading activity on Jan 18.MURTHY RAMESH (SVP, ICFO and CAO) most recently sold 1,182 shares at $1.33 per share on Jan 18. This transaction cost the insider $1,572. GENERAL COUNSEL, CORP SECY, Ruiz Hector M., sold 14,384 shares at a price of $1.10 on Jan 06. Then, on Jan 06, SVP, ICFO and CAO MURTHY RAMESH sold 13,832 shares at a price of $1.10 per share. This transaction amounted to $15,215.

Valuation Metrics

GOEV stock has a beta of 1.18. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.60.

Canoo Inc.’s quick ratio for the period ended September 29 was 0.20, with the current ratio over the same period at 0.20.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income grew 31.29% to -$117.71 million, while revenue of -$164.39 million was -39.66% off the previous quarter. Analysts expected GOEV to announce -$0.48 per share in earnings in its latest quarter, but it posted -$0.43, representing a 10.40% surprise. GOEV stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 216.91 million, with total debt at $41.79 million. Shareholders hold equity totaling $324.5 million.

Let’s look briefly at Canoo Inc. (GOEV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 60.72% to suggest the stock is trending Neutral, with historical volatility in this time period at 67.44%.

The stock’s 5-day moving average is $1.2980, reflecting a -0.75% or -$0.0100 change from its current price. GOEV is currently trading +9.92% above its 20-day SMA, -59.94% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +1.92% and SMA200 by-77.07%.

Stochastic %K and %D was 68.79% and 71.83% and the average true range (ATR) pointed at 0.0999. The RSI (14) points at 56.57%, while the 14-day stochastic is at 83.87% with the period’s ATR at 0.1028. The stock’s 9-day MACD Oscillator is pointing at 0.0111 and 0.0479 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Canoo Inc. (NASDAQ: GOEV), Stifel launched coverage with a Buy rating. Analysts offering their rating for GOEV stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate GOEV as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $1.00 and a high of $10.00, with their median price target at $6.00. Looking at these predictions, the average price target given by analysts is for Canoo Inc. (GOEV) stock is $5.67.


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