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Canoo Inc.’s (GOEV) Stock: A Week-by-Week Analysis

In the past week, GOEV stock has gone down by -8.80%, with a monthly decline of -20.13% and a quarterly plunge of -23.64%. The volatility ratio for the week is 7.19%, and the volatility levels for the last 30 days are 8.08% for Canoo Inc. The simple moving average for the past 20 days is -13.12% for GOEV’s stock, with a -57.63% simple moving average for the past 200 days.

Is It Worth Investing in Canoo Inc. (NASDAQ: GOEV) Right Now?

, and the 36-month beta value for GOEV is at 1.23. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”

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The average price suggested by analysts for GOEV is $3.66, which is $3.06 above the current market price. The public float for GOEV is 281.01M, and currently, shorts hold a 23.97% of that float. The average trading volume for GOEV on May 24, 2023 was 18.53M shares.

GOEV) stock’s latest price update

The stock price of Canoo Inc. (NASDAQ: GOEV) has plunged by -6.65 when compared to previous closing price of 0.64, but the company has seen a -8.80% decline in its stock price over the last five trading sessions. Barron’s reported on 07/14/22 that Canoo Stock Is Jumping Again on Hope for Government Deal

GOEV Trading at -8.61% from the 50-Day Moving Average

After a stumble in the market that brought GOEV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -88.02% of loss for the given period.

Volatility was left at 8.08%, however, over the last 30 days, the volatility rate increased by 7.19%, as shares sank -19.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.55% upper at present.

During the last 5 trading sessions, GOEV fell by -8.82%, which changed the moving average for the period of 200-days by -84.80% in comparison to the 20-day moving average, which settled at $0.6822. In addition, Canoo Inc. saw -51.30% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at GOEV starting from MURTHY RAMESH, who sale 496 shares at the price of $0.63 back on May 16. After this action, MURTHY RAMESH now owns 287,462 shares of Canoo Inc., valued at $312 using the latest closing price.

MURTHY RAMESH, the SVP and CAO of Canoo Inc., sale 945 shares at $0.68 during a trade that took place back on Apr 17, which means that MURTHY RAMESH is holding 288,020 shares at $640 based on the most recent closing price.

Stock Fundamentals for GOEV

Equity return is now at value -242.30, with -124.10 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.24.

Conclusion

In conclusion, Canoo Inc. (GOEV) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.