Canoo (NASDAQ:GOEV) Stock Rating Lowered by Stifel Nicolaus

Canoo (NASDAQ:GOEV) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have a $0.50 target price on the stock, down from their previous target price of $4.50. Stifel Nicolaus’ price objective suggests a potential downside of 64.54% from the stock’s previous close.

Separately, HC Wainwright decreased their price objective on Canoo from $80.00 to $40.00 and set a “buy” rating for the company in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Canoo presently has a consensus rating of “Moderate Buy” and a consensus target price of $396.75.

Canoo Stock Up 2.9 %

Shares of NASDAQ GOEV opened at $1.41 on Tuesday. The business has a 50-day moving average price of $7.94 and a 200 day moving average price of $23.26. The stock has a market cap of $6.82 million, a PE ratio of -0.40 and a beta of 1.14. Canoo has a 52-week low of $1.34 and a 52-week high of $141.68.

Institutional Trading of Canoo

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in shares of Canoo in the second quarter valued at approximately $37,000. Headlands Technologies LLC purchased a new position in Canoo in the 2nd quarter valued at $60,000. CIBC Asset Management Inc acquired a new position in Canoo in the 2nd quarter valued at $67,000. Bank of New York Mellon Corp purchased a new position in Canoo during the 2nd quarter worth $392,000. Finally, Rhumbline Advisers acquired a new stake in shares of Canoo in the 2nd quarter worth $153,000. 36.23% of the stock is owned by hedge funds and other institutional investors.

Canoo Company Profile

Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.