Canoo Inc. (NYSE:GOEV – Get Free Report) was the recipient of some unusual options trading on Monday. Investors purchased 22,870 call options on the company. This is an increase of 141% compared to the average volume of 9,500 call options.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. HC Wainwright dropped their target price on shares of Canoo from $10.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. Alliance Global Partners assumed coverage on shares of Canoo in a report on Thursday, August 24th. They set a “buy” rating and a $1.55 target price for the company.
Canoo Stock Up 21.7 %
Institutional Investors Weigh In On Canoo
Institutional investors and hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Canoo by 32.9% in the 2nd quarter. Principal Financial Group Inc. now owns 17,951 shares of the company’s stock worth $33,000 after purchasing an additional 4,448 shares during the period. Rhumbline Advisers grew its position in Canoo by 4.6% in the 2nd quarter. Rhumbline Advisers now owns 126,937 shares of the company’s stock worth $235,000 after purchasing an additional 5,592 shares during the period. Advisor Group Holdings Inc. grew its position in Canoo by 23.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 40,363 shares of the company’s stock worth $223,000 after purchasing an additional 7,544 shares during the period. Bank of New York Mellon Corp grew its position in shares of Canoo by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 386,691 shares of the company’s stock valued at $2,135,000 after acquiring an additional 8,479 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Canoo by 11.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 116,606 shares of the company’s stock valued at $216,000 after acquiring an additional 11,746 shares during the period. Institutional investors own 36.23% of the company’s stock.
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.
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