Canoo Inc (NASDAQ:GOEV) saw an upside of 1.69% to close Monday at $0.46 after adding $0.01 on the day. The 5-day average trading volume is 16,360,220 shares of the company’s common stock. It has gained $0.4953 in the past week and touched a new high 1 time within the past 5 days. An average of 27,615,586 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 33,473,859.
GOEV’s 1-month performance is -10.99% or -$0.0708 on its low of $0.4273 reached on 09/25/23. The company’s shares have touched a 52-week low of $0.41 and high of $2.31, with the stock’s rally to the 52-week high happening on 01/27/23. YTD, GOEV has lost -62.80% or -$0.7724 and has reached a new high 7 times. However, the current price is down -80.15% from the 52-week high price.
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Insider Transactions
GOEV stock investors last saw insider trading activity on Aug 21.Sheeran Josette (President) most recently sold 25,052 shares at $0.43 per share on Aug 21. This transaction cost the insider $10,772. SVP and CAO, MURTHY RAMESH, sold 577 shares at a price of $0.43 on Aug 21. Then, on Jul 18, SVP and CAO MURTHY RAMESH sold 992 shares at a price of $0.70 per share. This transaction amounted to $694.
Valuation Metrics
GOEV stock has a beta of 1.26. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.12.
Canoo Inc’s quick ratio for the period ended June 29 was 0.10, with the current ratio over the same period at 0.13. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.16, while the total debt to equity was 0.27.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -131.96% to -$70.87 million, while revenue of -$90.73 million was -28.02% off the previous quarter. Analysts expected GOEV to announce -$0.19 per share in earnings in its latest quarter, but it posted -$0.14, representing a 26.30% surprise. EBITDA for the quarter stood at more than -$69.0 million. GOEV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 289.35 million, with total debt at $96.75 million. Shareholders hold equity totaling $628.34 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 25 September was 37.07% to suggest the stock is trending Neutral, with historical volatility in this time period at 46.68%.
The stock’s 5-day moving average is $0.4562, reflecting a -0.93% or -$0.0043 change from its current price. GOEV is currently trading -13.40% above its 20-day SMA, -40.29% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -35.26% and SMA200 by-66.10%.
Stochastic %K and %D was 10.23% and 7.36% and the average true range (ATR) pointed at 0.0402. The RSI (14) points at 40.18%, while the 14-day stochastic is at 17.82% with the period’s ATR at 0.0449. The stock’s 9-day MACD Oscillator is pointing at -0.0214 and -0.0411 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 Buy. 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 4 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 $0.50 and a high of $10.00, with their median price target at $1.55. Looking at these predictions, the average price target given by analysts is for Canoo Inc (GOEV) stock is $3.11.
