In the past week, GOEV stock has gone up by 8.86%, with a monthly decline of -24.44% and a quarterly plunge of -59.43%. The volatility ratio for the week is 6.41%, and the volatility levels for the last 30 days are 8.12% for Canoo Inc The simple moving average for the past 20 days is -3.67% for GOEV’s stock, with a -61.47% simple moving average for the past 200 days.
Is It Worth Investing in Canoo Inc (NASDAQ: GOEV) Right Now?
The 36-month beta value for GOEV is at 1.26. Analysts have varying views on the stock, with 4 analysts rating it as a “buy,” 2 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for GOEV is 75.66M, and currently, shorts hold a 12.27% of that float. The average trading volume for GOEV on October 09, 2024 was 3.19M shares.
GOEV) stock’s latest price update
Canoo Inc (NASDAQ: GOEV)’s stock price has soared by 0.26 in relation to previous closing price of 0.99. Nevertheless, the company has seen a gain of 8.86% in its stock price over the last five trading days. zacks.com reported 2024-10-08 that In the closing of the recent trading day, Canoo Inc. (GOEV) stood at $0.99, denoting a +0.26% change from the preceding trading day.
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 -26.56% 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 -89.45% of loss for the given period.
Volatility was left at 8.12%, however, over the last 30 days, the volatility rate increased by 6.41%, as shares sank -19.53% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -49.24% lower at present.
During the last 5 trading sessions, GOEV rose by +8.86%, which changed the moving average for the period of 200-days by -82.93% in comparison to the 20-day moving average, which settled at $1.0275. In addition, Canoo Inc saw -83.27% 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 3,348 shares at the price of $1.05 back on Sep 17 ’24. After this action, Ruiz Hector M. now owns 178,165 shares of Canoo Inc, valued at $3,515 using the latest closing price.
Ethridge Greg, the Chief Financial Officer of Canoo Inc, sale 4,849 shares at $1.05 during a trade that took place back on Sep 17 ’24, which means that Ethridge Greg is holding 206,319 shares at $5,091 based on the most recent closing price.
Stock Fundamentals for GOEV
Current profitability levels for the company are sitting at:
- -146.59 for the present operating margin
- -8.51 for the gross margin
The net margin for Canoo Inc stands at -171.74. The total capital return value is set at -0.63. Equity return is now at value -119.37, with -48.07 for asset returns.
Based on Canoo Inc (GOEV), the company’s capital structure generated 0.29 points at debt to capital in total, while cash flow to debt ratio is standing at -2.52. The debt to equity ratio resting at 0.41. The interest coverage ratio of the stock is -17.36.
Currently, EBITDA for the company is -253.98 million with net debt to EBITDA at -0.35. When we switch over and look at the enterprise to sales, we see a ratio of 104.68. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.17.
Conclusion
In conclusion, Canoo Inc (GOEV) has had a bad performance lately. Opinion on the stock among analysts is bullish, 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.
