As of Friday close, Canoo Inc.’s (NASDAQ:GOEV) stock was down -$0.05, moving down -6.93 percent to $0.60. The average number of shares traded per day over the past five days has been 35,999,520 shares. 2 times new highs have been achieved over the past 5 days, with a $0.0607 gain in that time frame. In the last twenty days, the average volume was 54,220,539, while in the previous 50 days, it was 36,954,188.
Since last month, GOEV stock rose 16.85%. Shares of the company fell to $0.4960 on 07/10/23, the lowest level in the past month. A 52-week high of $4.39 was reached on 01/27/23 after having rallying from a 52-week low of $0.41. Since the beginning of this year, GOEV’s stock price has dropped by -51.00% or -$0.6273, and marked a new high 7 times. However, the stock has declined by -86.27% since its 52-week high.
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GOEV stock investors should be aware that Canoo Inc. (GOEV) stock had its last reported insider trading activity 18 days ago on Jul 18. MURTHY RAMESH, the SVP and CAO of the company, disposed of 992 shares for $0.70 on Jul 18. It resulted in a $694 divestment by the insider. Ruiz Hector M. sold 2,490 shares at an average price of $0.55 on Jul 05. The insider now owns 284,962 shares following the transaction. On Jul 05, SVP and CAO MURTHY RAMESH sold 2,394 shares at $0.55 apiece. The transaction was valued at $1,317.
Financial Health
In the three months ended March 30, Canoo Inc.’s quick ratio stood at 0.10, while its current ratio was 0.20, showing that the company is not able to pay off its debt.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected Canoo Inc. to report -$0.19 quarterly earnings, the actual figure was -$0.22 per share, beating the consensus estimate by -15.80%. During the quarter, the company generated -$76.95 million in EBITDA. The liabilities of Canoo Inc. were 236.36 million at the end of its most recent quarter ended March 30, and its total debt was $40.66 million. The value of shareholders’ equity is $503.66 million.
Technical Picture
This quick technical analysis looks at Canoo Inc.’s (GOEV) price momentum. With a historical volatility rate of 134.81%, the RSI 9-day stood at 49.37% on 04 August.
With respect to its five-day moving average, the current Canoo Inc. price is up by +11.20% percent or $0.0607. At present, GOEV shares trade +8.97% above its 20-day simple moving average and +2.33% percent above its 100-day simple moving average. However, the stock is currently trading approximately -6.08% below its SMA50 and -58.43% below its SMA200.
Stochastic coefficient K was 32.49% and Stochastic coefficient D was 36.03%, while ATR was 0.0712. Given the Stochastic reading of 25.21% for the 14-day period, the RSI (14) reading has been calculated as 50.50%. As of today, the MACD Oscillator reading stands at 0.0300.
