Canoo Inc (NASDAQ:GOEV) finished Thursday with a subtraction of -$0.01 to close at $0.48, a downside of -1.08 percent. An average of 16,611,059 shares of common stock have been traded in the last five days. There was a gain of $0.0412 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 19,321,670 shares traded, while the 50-day average volume stands at 29,671,639.
GOEV stock has decreased by -24.01% in the last month. The company shares reached their 1-month lowest point of $0.4273 on 09/25/23. With the stock rallying to its 52-week high on 01/27/23, shares of the company touched a low of $0.41 and a high of $2.14 in 52 weeks. It has reached a new high 7 times so far this year and lost -60.61% or -$0.7455 in price. In spite of this, the price is down -77.36% from the 52-week high.
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Insider Transactions
GOEV stock investors should be aware that Canoo Inc (GOEV) stock had its last reported insider trading activity 39 days ago on Aug 21. In this transaction, the insider spent $10,772. SVP and CAO, MURTHY RAMESH, disposed of 577 shares at a price of $0.43 on Aug 21. The insider now owns more than $248 worth of shares. Prior to that, SVP and CAO MURTHY RAMESH went on to Sale 992 shares at $0.70 each on Jul 18. An amount of $694 was transacted.
Valuation Metrics
Canoo Inc (GOEV) stock’s beta is 1.24. Other valuation ratios to consider include the price-to-book (PB) ratio at 1.18.
Financial Health
The quick ratio of Canoo Inc for the three months ended June 29 was 0.10, and the current ratio was 0.13, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.16 and a total debt to equity ratio of 0.27 for the quarter ending June 29.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$70.87 million in the quarter, while revenues were shrunk -131.96%. The analyst consensus anticipated Canoo Inc’s latest quarter earnings to come in at -$0.19 per share, but it turned out to be -$0.14, a 26.30% surprise. For the quarter, EBITDA amounted to -$69.0 million. Shareholders own equity worth $628.34 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Canoo Inc (GOEV) price momentum. RSI 9-day as of the close on 28 September was 47.47%, suggesting the stock is Neutral, with historical volatility in this time frame at 50.13%.
As of today, GOEV’s price is $0.4704 +9.29% or $0.0412 from its 5-day moving average. GOEV is currently trading -27.96% lower than its 20-day SMA and -31.51% lower than its 100-day SMA. However, the stock’s current price level is -32.48% below the SMA50 and -62.15% below the SMA200.
The stochastic %K and %D were 38.72% and 29.72%, respectively, and the average true range (ATR) was 0.0384. With the 14-day stochastic at 40.92% and the average true range at 0.0428, the RSI (14) stands at 45.83%. The stock has reached 0.0162 on the 9-day MACD Oscillator while the 14-day reading was at 0.0004.
Analyst Ratings
Stifel launched coverage on Canoo Inc (NASDAQ: GOEV) in its analyst report released on September 16, 2022. The firm assigned the stock a Buy rating.
