Canoo (NYSE:GOEV) Price Target Cut to $3.00 by Analysts at HC Wainwright

Canoo (NYSE:GOEV) had its price target trimmed by HC Wainwright from $10.00 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Alliance Global Partners initiated coverage on shares of Canoo in a research report on Thursday, August 24th. They set a buy rating and a $1.55 price target for the company.

Canoo Stock Up 16.0 %

Shares of NYSE:GOEV opened at $0.30 on Wednesday. Canoo has a 52-week low of $0.22 and a 52-week high of $1.49. The firm has a fifty day moving average of $0.36 and a 200 day moving average of $0.50. The firm has a market capitalization of $189.44 million, a PE ratio of -0.38 and a beta of 1.31. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.10 and a current ratio of 0.17.

Institutional Trading of Canoo

A number of institutional investors have recently modified their holdings of GOEV. Infini Capital Management Ltd purchased a new stake in shares of Canoo during the first quarter worth about $10,925,000. BlackRock Inc. raised its stake in Canoo by 49.1% in the first quarter. BlackRock Inc. now owns 18,750,337 shares of the company’s stock worth $12,236,000 after buying an additional 6,178,847 shares in the last quarter. Renaissance Technologies LLC bought a new position in Canoo in the first quarter worth about $2,780,000. State Street Corp raised its stake in Canoo by 122.7% in the first quarter. State Street Corp now owns 6,342,854 shares of the company’s stock worth $4,139,000 after buying an additional 3,494,923 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Canoo by 22.6% in the third quarter. Vanguard Group Inc. now owns 16,777,485 shares of the company’s stock worth $31,458,000 after buying an additional 3,093,090 shares in the last quarter. 36.23% of the stock is currently owned by hedge funds and other institutional investors.

Canoo Company Profile

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 that directly houses the critical components for operation of an EV.