Canoo Inc (NASDAQ: GOEV)’s stock price has plunge by -5.26relation to previous closing price of 0.27. Nevertheless, the company has seen a 13.87% surge in its stock price over the last five trading sessions. Seeking Alpha reported 2023-11-14 that Canoo Inc. (NASDAQ:GOEV ) Q3 2023 Earnings Call Transcript November 14, 2023 10:00 AM ET Company Participants Kunal Bhalla – Senior Vice President, Corporate Development and Capital Markets Tony Aquila – Investor, Chairman and Chief Executive Officer Greg Ethridge – Chief Financial Officer Ramesh Murthy – Chief Accounting Officer Conference Call Participants Stephen Gengaro – Stifel Amit Dayal – H.C. Wainwright Jaime Perez – R.F.
Is It Worth Investing in Canoo Inc (NASDAQ: GOEV) Right Now?
, and the 36-month beta value for GOEV is at 1.29. Analysts have varying views on the stock, with 4 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
The average price suggested by analysts for GOEV is $1.61, which is $1.35 above the current market price. The public float for GOEV is 588.67M, and currently, shorts hold a 12.83% of that float. The average trading volume for GOEV on November 16, 2023 was 23.65M shares.
GOEV’s Market Performance
The stock of Canoo Inc (GOEV) has seen a 13.87% increase in the past week, with a -17.50% drop in the past month, and a -41.65% fall in the past quarter. The volatility ratio for the week is 11.56%, and the volatility levels for the past 30 days are at 10.47% for GOEV. The simple moving average for the last 20 days is -2.48% for GOEV stock, with a simple moving average of -55.38% for the last 200 days.
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 -30.37% 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 -82.64% of loss for the given period.
Volatility was left at 10.47%, however, over the last 30 days, the volatility rate increased by 11.56%, as shares sank -6.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -51.34% lower at present.
During the last 5 trading sessions, GOEV rose by +15.42%, which changed the moving average for the period of 200-days by -78.40% in comparison to the 20-day moving average, which settled at $0.2634. In addition, Canoo Inc saw -79.04% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at GOEV starting from MURTHY RAMESH, who sale 1,001 shares at the price of $0.26 back on Nov 07. After this action, MURTHY RAMESH now owns 282,618 shares of Canoo Inc, valued at $260 using the latest closing price.
Ruiz Hector M., the GENERAL COUNSEL, CORP SECY of Canoo Inc, sale 2,814 shares at $0.49 during a trade that took place back on Oct 02, which means that Ruiz Hector M. is holding 285,456 shares at $1,379 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 -179.81, with -72.27 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.
When we switch over and look at the enterprise to sales, we see a ratio of 438.54, with the company’s debt to enterprise value settled at 0.20. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.24.
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.