Canoo (NYSE:GOEV) Stock Price Up 8.7%

Canoo Inc. (NYSE:GOEVGet Rating)’s stock price rose 8.7% during mid-day trading on Tuesday . The stock traded as high as $2.62 and last traded at $2.62. Approximately 37,005 shares traded hands during trading, a decline of 98% from the average daily volume of 1,984,662 shares. The stock had previously closed at $2.41.

The firm has a market cap of $794.81 million, a price-to-earnings ratio of -1.33 and a beta of 0.25. The firm has a 50 day moving average price of $3.83 and a 200-day moving average price of $5.59.

Canoo (NYSE:GOEVGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.04). During the same period last year, the business earned ($0.07) earnings per share. Equities research analysts predict that Canoo Inc. will post -2.14 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Canoo by 0.4% during the 1st quarter. BlackRock Inc. now owns 7,721,670 shares of the company’s stock worth $42,622,000 after purchasing an additional 28,472 shares in the last quarter. Invesco Ltd. increased its position in Canoo by 17.1% during the 3rd quarter. Invesco Ltd. now owns 4,349,817 shares of the company’s stock worth $33,450,000 after purchasing an additional 636,066 shares in the last quarter. State Street Corp increased its position in Canoo by 3.5% during the 1st quarter. State Street Corp now owns 2,242,412 shares of the company’s stock worth $12,378,000 after purchasing an additional 75,583 shares in the last quarter. Morgan Stanley increased its position in Canoo by 30.1% during the 3rd quarter. Morgan Stanley now owns 1,969,914 shares of the company’s stock worth $15,148,000 after purchasing an additional 455,772 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Canoo by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 959,074 shares of the company’s stock worth $5,295,000 after purchasing an additional 25,958 shares in the last quarter. 63.43% of the stock is owned by institutional investors and hedge funds.

Canoo Company Profile (NYSE:GOEV)

Canoo Inc, a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis design to support various range of vehicle weight and ride profiles.

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