The stock of Canoo Inc. (NASDAQ:GOEV) decreased by $0.0 on Monday to finish at $0.51, down -1.05 percent. The last five days have seen an average of 26,408,740 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$0.7207. The average number of shares traded over the last 20 days was 40,306,316, while the average volume over the last 50 days totaled 38,745,395.
GOEV stock dropped -27.94% since last month. On 08/14/23, the company’s shares reached a one-month low of $0.4800. The stock touched a high of $4.39 on 01/27/23, after rallying from a low of $0.41 in 52 weeks. The price of GOEV stock has declined by -58.59% or -$0.7207 this year, reaching a new high 7 times. Still, the stock price is down -88.40% from the 52-week high.
Insider Transactions
GOEV stock investors should be aware that Canoo Inc. (GOEV) stock had its last reported insider trading activity 28 days ago on Jul 18. On Jul 18, SVP and CAO MURTHY RAMESH sold 992 shares at $0.70 each. This transaction resulted in the insider making $694. On Jul 05, Ruiz Hector M. sold 2,490 shares at a price of US$0.55. After the transaction, the insider now owns 284,962 shares. SVP and CAO MURTHY RAMESH had earlier sold 2,394 shares on Jul 05 for $0.55 a share. The transaction was completed for $1,317.
Financial Health
For the three months ended March 30, Canoo Inc.’s quick ratio was 0.10, while its current ratio was 0.20, indicating its inability 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 -99.20%. In the meantime, the return on equity (ROE) for the last 12 months was -200.30%.
Earnings Surprise
According to Canoo Inc.’s quarterly financial report for the quarter that ended March 30. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Canoo Inc.’s quarterly earnings would be -$0.22, but it ended up being -$0.19, beating the consensus by -15.80%. EBITDA was -$76.95 million for the quarter. At the end of Canoo Inc.’s most recent quarter ended March 30, its liabilities totaled 236.36 million, while its total debt was $40.66 million. Equity owned by shareholders amounts to $503.66 million.
Technical Picture
Here’s a quick look at Canoo Inc.’s (GOEV) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 35.70%, suggesting the stock is Neutral, with a 38.78% historical volatility rate.
The stochastic %K and %D were 10.63% and 11.02% respectively, while the average true range (ATR) was 0.0565. Based on the 14-day stochastic reading of 15.05%, the RSI (14) reading is 41.25%. On the 9-day MACD Oscillator, the stock is at -0.0496, and the 14-day reading is at -0.0581.
Analyst Ratings
In its analyst report released on September 16, 2022, Stifel began covering Canoo Inc. (NASDAQ: GOEV). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Canoo Inc. (GOEV) an Overweight rating. GOEV is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. 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 $1.00 and $10.00, with a median target price of $1.75. In analyzing these forecasts, the average price target given by analysts for Canoo Inc. (GOEV) is $3.63.
