The stock of Canoo Inc (GOEV) has seen a 11.90% increase in the past week, with a -36.06% drop in the past month, and a -34.78% decrease in the past quarter. The volatility ratio for the week is 20.13%, and the volatility levels for the past 30 days are at 17.33% for GOEV. The simple moving average for the past 20 days is -4.72% for GOEV’s stock, with a -61.65% simple moving average for the past 200 days.
Is It Worth Investing in Canoo Inc (NASDAQ: GOEV) Right Now?
GOEV has 36-month beta value of 1.27. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for GOEV is 56.55M, and currently, short sellers hold a 19.55% ratio of that float. The average trading volume of GOEV on April 22, 2024 was 8.61M shares.
GOEV) stock’s latest price update
Canoo Inc (NASDAQ: GOEV) has seen a decline in its stock price by -2.63 in relation to its previous close of 2.85. However, the company has experienced a 11.90% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-16 that The EV sector has some of the most popular and exciting stocks for explosive future growth. However, the massive attention means more players working to get a piece, creating one of the most competitive markets.
Analysts’ Opinion of GOEV
Many brokerage firms have already submitted their reports for GOEV stocks, with The Benchmark Company repeating the rating for GOEV by listing it as a “Buy.” The predicted price for GOEV in the upcoming period, according to The Benchmark Company is $5 based on the research report published on April 17, 2024 of the current year 2024.
Wedbush, 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 “Outperform” according to the report published on January 05th, 2024.
Stifel gave a rating of “Buy” to GOEV, setting the target price at $4 in the report published on September 16th of the previous year.
GOEV Trading at 0.75% 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 -85.77% of loss for the given period.
Volatility was left at 17.33%, however, over the last 30 days, the volatility rate increased by 20.13%, as shares sank -37.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -28.69% lower at present.
During the last 5 trading sessions, GOEV rose by +8.47%, which changed the moving average for the period of 200-days by -77.33% in comparison to the 20-day moving average, which settled at $2.83. In addition, Canoo Inc saw -53.09% 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 296.68. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.18.
Conclusion
To put it simply, Canoo Inc (GOEV) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.
