As of Thursday close, Canoo Inc.’s (NASDAQ:GOEV) stock traded at $0.44. The average number of shares traded per day over the past five days has been 32,072,660 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0798 fall in that time frame. In the last twenty days, the average volume was 33,886,039, while in the previous 50 days, it was 39,767,152.
Since last month, GOEV stock retreated -38.46%. Shares of the company fell to $0.4300 on 08/16/23, the lowest level in the past month. A 52-week high of $4.23 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 -64.10% or -$0.7884, and marked a new high 7 times. However, the stock has declined by -89.56% 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 31 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 June 29, 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 -$0.14 per share, beating the consensus estimate by 26.30%. During the quarter, the company generated -$69.0 million in EBITDA. The liabilities of Canoo Inc. were 289.35 million at the end of its most recent quarter ended June 29. The value of shareholders’ equity is $628.34 million.
Technical Picture
This quick technical analysis looks at Canoo Inc.’s (GOEV) price momentum. With a historical volatility rate of 41.56%, the RSI 9-day stood at 27.26% on 17 August.
With respect to its five-day moving average, the current Canoo Inc. price is down by -15.30% percent or -$0.0798. At present, GOEV shares trade -33.61% below its 20-day simple moving average and -24.72% percent below its 100-day simple moving average. However, the stock is currently trading approximately -21.67% below its SMA50 and -68.00% below its SMA200.
Stochastic coefficient K was 4.89% and Stochastic coefficient D was 7.76%, while ATR was 0.0531. Given the Stochastic reading of 4.74% for the 14-day period, the RSI (14) reading has been calculated as 34.98%. As of today, the MACD Oscillator reading stands at -0.0530, while the 14-day reading stands at -0.0990.
Analyst Ratings
Stifel launched its rating on Canoo Inc. (NASDAQ: GOEV) to a Buy in a note to investors on September 16, 2022. Canoo Inc. (GOEV) has been rated Overweight by analysts. According to 0 brokerage firms, GOEV is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Canoo Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $1.75, the current consensus forecast for the stock is $0.50 – $10.00. Based on these forecasts, analysts predict Canoo Inc. (GOEV) will achieve an average price target of $3.50.
