The stock has a 36-month beta value of 1.28. 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 63.71M, and at present, short sellers hold a 16.91% of that float. On July 22, 2024, the average trading volume of GOEV was 3.90M shares.
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GOEV) stock’s latest price update
Canoo Inc (NASDAQ: GOEV)’s stock price has dropped by -4.82 in relation to previous closing price of 2.30. Nevertheless, the company has seen a loss of -18.31% in its stock price over the last five trading days. zacks.com reported 2024-07-19 that Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock’s price, do they really matter?
GOEV’s Market Performance
Canoo Inc (GOEV) has seen a -18.31% fall in stock performance for the week, with a 20.95% gain in the past month and a -23.19% plunge in the past quarter. The volatility ratio for the week is 10.85%, and the volatility levels for the past 30 days are at 9.85% for GOEV. The simple moving average for the past 20 days is -2.22% for GOEV’s stock, with a -46.36% 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 -3.93% 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 -87.27% of loss for the given period.
Volatility was left at 9.85%, however, over the last 30 days, the volatility rate increased by 10.85%, as shares surge +16.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -14.14% lower at present.
During the last 5 trading sessions, GOEV fell by -18.63%, which changed the moving average for the period of 200-days by -78.70% in comparison to the 20-day moving average, which settled at $2.25. In addition, Canoo Inc saw -62.99% 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 MURTHY RAMESH, who sale 10,948 shares at the price of $2.33 back on Jul 03 ’24. After this action, MURTHY RAMESH now owns 181,447 shares of Canoo Inc, valued at $25,509 using the latest closing price.
Ruiz Hector M., the GENERAL COUNSEL, CORP SECY of Canoo Inc, sale 10,937 shares at $2.33 during a trade that took place back on Jul 03 ’24, which means that Ruiz Hector M. is holding 181,513 shares at $25,483 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 276.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.16.
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.
