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 61.64M, and currently, short sellers hold a 14.97% ratio of that float. The average trading volume of GOEV on June 25, 2024 was 5.35M shares.
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GOEV) stock’s latest price update
The stock price of Canoo Inc (NASDAQ: GOEV) has plunged by -9.57 when compared to previous closing price of 1.88, but the company has seen a -5.56% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-06-24 that JUSTIN, Texas, June 24, 2024 (GLOBE NEWSWIRE) — Canoo Inc. (Nasdaq: GOEV ), a high-tech advanced mobility company, today announced that it has received the first of two tranches of new or like-new advanced manufacturing assets, formerly owned by Arrival Automotive UK Limited, at its Foreign Trade Zone (FTZ) designated facility in Oklahoma City, OK. The received assets will bolster in-house processes and enable higher cabin line production volumes in 2025.
GOEV’s Market Performance
GOEV’s stock has fallen by -5.56% in the past week, with a monthly drop of -33.59% and a quarterly drop of -60.28%. The volatility ratio for the week is 8.41% while the volatility levels for the last 30 days are 12.50% for Canoo Inc The simple moving average for the past 20 days is -18.50% for GOEV’s stock, with a -65.53% simple moving average for the past 200 days.
Analysts’ Opinion of GOEV
The Benchmark Company, on the other hand, stated in their research note that they expect to see GOEV reach a price target of $5. The rating they have provided for GOEV stocks is “Buy” according to the report published on April 17th, 2024.
Wedbush gave a rating of “Outperform” to GOEV, setting the target price at $4 in the report published on January 05th of the current year.
GOEV Trading at -31.50% 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 -91.28% of loss for the given period.
Volatility was left at 12.50%, however, over the last 30 days, the volatility rate increased by 8.41%, as shares sank -27.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -25.44% lower at present.
During the last 5 trading sessions, GOEV fell by -5.56%, which changed the moving average for the period of 200-days by -86.71% in comparison to the 20-day moving average, which settled at $2.0530. In addition, Canoo Inc saw -71.26% 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:
- -280.97 for the present operating margin
- -15.22 for the gross margin
The net margin for Canoo Inc stands at -363.4. The total capital return value is set at -0.72. Equity return is now at value -147.69, with -62.35 for asset returns.
Based on Canoo Inc (GOEV), the company’s capital structure generated 0.35 points at debt to capital in total, while cash flow to debt ratio is standing at -2.36. The debt to equity ratio resting at 0.53. The interest coverage ratio of the stock is -28.38.
Currently, EBITDA for the company is -253.98 million with net debt to EBITDA at -0.37. When we switch over and look at the enterprise to sales, we see a ratio of 233.75. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.16.
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.
