Shares of Canoo Inc. (NASDAQ:GOEV – Get Free Report) have received a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $42.63.
GOEV has been the subject of several recent research reports. Alliance Global Partners reissued a “neutral” rating on shares of Canoo in a research note on Monday, January 6th. Stifel Nicolaus lowered Canoo from a “buy” rating to a “hold” rating and lowered their target price for the company from $4.50 to $0.50 in a research note on Tuesday, December 31st.
View Our Latest Analysis on Canoo
Canoo Stock Performance
Hedge Funds Weigh In On Canoo
Hedge funds have recently modified their holdings of the company. XTX Topco Ltd raised its holdings in shares of Canoo by 191.7% during the third quarter. XTX Topco Ltd now owns 31,659 shares of the company’s stock valued at $31,000 after acquiring an additional 20,805 shares in the last quarter. National Bank of Canada FI increased its position in Canoo by 609.8% during the 4th quarter. National Bank of Canada FI now owns 37,653 shares of the company’s stock valued at $53,000 after purchasing an additional 45,039 shares during the period. Two Sigma Investments LP purchased a new position in Canoo during the 4th quarter valued at $69,000. Jane Street Group LLC raised its holdings in Canoo by 51.4% in the 4th quarter. Jane Street Group LLC now owns 168,884 shares of the company’s stock worth $238,000 after purchasing an additional 57,347 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Canoo in the 3rd quarter worth about $280,000. Hedge funds and other institutional investors own 36.23% of the company’s stock.
About Canoo
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.
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