The stock of Canoo Inc. (GOEV) has gone down by -11.22% for the week, with a 4.60% rise in the past month and a -30.02% drop in the past quarter. The volatility ratio for the week is 7.41%, and the volatility levels for the past 30 days are 9.82% for GOEV. The simple moving average for the past 20 days is -15.09% for GOEV’s stock, with a -40.11% simple moving average for the past 200 days.
Is It Worth Investing in Canoo Inc. (NASDAQ: GOEV) Right Now?
while the 36-month beta value is 1.23.Analysts have differing opinions on the stock, with 4 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The average price point forecasted by analysts for Canoo Inc. (GOEV) is $3.11, which is $2.65 above the current market price. The public float for GOEV is 557.11M, and currently, short sellers hold a 11.94% ratio of that floaft. The average trading volume of GOEV on September 19, 2023 was 38.13M shares.
GOEV) stock’s latest price update
The stock price of Canoo Inc. (NASDAQ: GOEV) has plunged by -4.21 when compared to previous closing price of 0.48, but the company has seen a -11.22% decline in its stock price over the last five trading sessions. InvestorPlace reported 2023-09-18 that Change seems to be the only constant in the ever-evolving landscape of the automotive industry. The sector is undergoing unparalleled shifts.
Analysts’ Opinion of GOEV
Many brokerage firms have already submitted their reports for GOEV stocks, with Stifel repeating the rating for GOEV by listing it as a “Buy.” The predicted price for GOEV in the upcoming period, according to Stifel is $4 based on the research report published on September 16, 2022 of the previous year 2022.
GOEV Trading at -18.18% 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 -83.29% of loss for the given period.
Volatility was left at 9.82%, however, over the last 30 days, the volatility rate increased by 7.41%, as shares surge +4.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.49% lower at present.
During the last 5 trading sessions, GOEV fell by -11.22%, which changed the moving average for the period of 200-days by -62.75% in comparison to the 20-day moving average, which settled at $0.5450. In addition, Canoo Inc. saw -62.45% 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 Sheeran Josette, who sale 25,052 shares at the price of $0.43 back on Aug 21. After this action, Sheeran Josette now owns 1,336,459 shares of Canoo Inc., valued at $10,772 using the latest closing price.
MURTHY RAMESH, the SVP and CAO of Canoo Inc., sale 577 shares at $0.43 during a trade that took place back on Aug 21, which means that MURTHY RAMESH is holding 283,326 shares at $248 based on the most recent closing price.
Stock Fundamentals for GOEV
The total capital return value is set at -151.60, while invested capital returns managed to touch -154.09. Equity return is now at value -151.60, with -73.70 for asset returns.
Based on Canoo Inc. (GOEV), the company’s capital structure generated 31.04 points at debt to equity in total, while total debt to capital is 23.69. Total debt to assets is 14.79, with long-term debt to equity ratio resting at 16.32. Finally, the long-term debt to capital ratio is 12.45.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.24.
Conclusion
In a nutshell, Canoo Inc. (GOEV) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
