The stock has a 36-month beta value of 1.33. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for GOEV is 56.62M, and at present, short sellers hold a 23.31% of that float. On May 06, 2024, the average trading volume of GOEV was 8.60M shares.
GOEV) stock’s latest price update
Canoo Inc (NASDAQ: GOEV)’s stock price has dropped by -2.17 in relation to previous closing price of 2.77. Nevertheless, the company has seen a loss of -3.90% in its stock price over the last five trading days. GlobeNewsWire reported 2024-05-03 that Justin, TX, May 03, 2024 (GLOBE NEWSWIRE) — Canoo Inc. (Nasdaq: GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter ended March 31, 2024 after market close on Tuesday, May 14, 2024. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period.
GOEV’s Market Performance
Canoo Inc (GOEV) has seen a -3.90% fall in stock performance for the week, with a 27.23% gain in the past month and a -24.52% plunge in the past quarter. The volatility ratio for the week is 6.77%, and the volatility levels for the past 30 days are at 12.78% for GOEV. The simple moving average for the past 20 days is -1.51% for GOEV’s stock, with a -59.49% simple moving average for the past 200 days.
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 0.95% 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 -86.10% of loss for the given period.
Volatility was left at 12.78%, however, over the last 30 days, the volatility rate increased by 6.77%, as shares surge +12.66% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.03% upper at present.
During the last 5 trading sessions, GOEV fell by -3.72%, which changed the moving average for the period of 200-days by -82.25% in comparison to the 20-day moving average, which settled at $2.77. In addition, Canoo Inc saw -54.19% 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 286.06. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.18.
Conclusion
To sum up, Canoo Inc (GOEV) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing 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.
