The 36-month beta value for GOEV is at 1.28. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for GOEV is 57.10M, and currently, shorts hold a 17.31% of that float. The average trading volume for GOEV on April 08, 2024 was 8.35M shares.
GOEV) stock’s latest price update
Canoo Inc (NASDAQ: GOEV)’s stock price has increased by 11.23 compared to its previous closing price of 2.13. However, the company has seen a -38.78% decrease in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-08 that SM, GOEV and UBER made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on April 8, 2023.
GOEV’s Market Performance
GOEV’s stock has fallen by -38.78% in the past week, with a monthly rise of 4.04% and a quarterly drop of -56.76%. The volatility ratio for the week is 17.25% while the volatility levels for the last 30 days are 25.68% for Canoo Inc The simple moving average for the last 20 days is -14.74% for GOEV stock, with a simple moving average of -69.11% for the last 200 days.
Analysts’ Opinion of GOEV
Many brokerage firms have already submitted their reports for GOEV stocks, with Wedbush repeating the rating for GOEV by listing it as a “Outperform.” The predicted price for GOEV in the upcoming period, according to Wedbush is $4 based on the research report published on January 05, 2024 of the current year 2024.
Stifel, on the other hand, stated in their research note that they expect to see GOEV reach a price target of $4. The rating they have provided for GOEV stocks is “Buy” according to the report published on September 16th, 2022.
ROTH Capital gave a rating of “Buy” to GOEV, setting the target price at $14 in the report published on December 16th of the previous year.
GOEV Trading at -21.72% 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 -87.85% of loss for the given period.
Volatility was left at 25.68%, however, over the last 30 days, the volatility rate increased by 17.25%, as shares surge +16.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -33.73% lower at present.
During the last 5 trading sessions, GOEV fell by -35.92%, which changed the moving average for the period of 200-days by -79.61% in comparison to the 20-day moving average, which settled at $2.80. In addition, Canoo Inc saw -59.95% 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 Ruiz Hector M., who sale 745 shares at the price of $0.16 back on Feb 07 ’24. After this action, Ruiz Hector M. now owns 283,355 shares of Canoo Inc, valued at $119 using the latest closing price.
MURTHY RAMESH, the SVP and CAO of Canoo Inc, sale 1,217 shares at $0.18 during a trade that took place back on Jan 24 ’24, which means that MURTHY RAMESH is holding 283,669 shares at $219 based on the most recent closing price.
Stock Fundamentals for GOEV
Current profitability levels for the company are sitting at:
- -302.28 for the present operating margin
- -17.49 for the gross margin
The net margin for Canoo Inc stands at -351.6. The total capital return value is set at -0.75. Equity return is now at value -124.25, with -58.17 for asset returns.
Based on Canoo Inc (GOEV), the company’s capital structure generated 0.27 points at debt to capital in total, while cash flow to debt ratio is standing at -2.79. The debt to equity ratio resting at 0.36. The interest coverage ratio of the stock is -77.74.
Currently, EBITDA for the company is -253.98 million with net debt to EBITDA at -0.31. When we switch over and look at the enterprise to sales, we see a ratio of 265.09. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.18.
Conclusion
In conclusion, Canoo Inc (GOEV) has had a bad performance lately. Opinion on the stock among analysts is mixed, 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.
