In What Direction Will Canoo Inc.’s (NASDAQ:GOEV) Stock Goes From Here?

Canoo Inc. (NASDAQ: GOEV) closed the day trading at $1.16 down -6.45% from the previous closing price of $1.24. In other words, the price has decreased by -$0.0800 from its previous closing price. On the day, 9977883 shares were traded.

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Ratios:

For a better understanding of GOEV, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 0.20 and its Current Ratio is at 0.20. In the meantime, Its Debt-to-Equity ratio is 0.05 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Stifel on September 16, 2022, initiated with a Buy rating and assigned the stock a target price of $4.

On December 16, 2021, ROTH Capital Upgraded its rating to Buy which previously was Neutral and also upped its target price recommendation from $9 to $14.

On September 07, 2021, H.C. Wainwright started tracking the stock assigning a Buy rating and target price of $15.H.C. Wainwright initiated its Buy rating on September 07, 2021, with a $15 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 16 when Sheeran Josette sold 36,880 shares for $1.44 per share. The transaction valued at 53,107 led to the insider holds 1,361,511 shares of the business.

MURTHY RAMESH sold 516 shares of GOEV for $743 on Nov 16. The SVP, ICFO and CAO now owns 275,133 shares after completing the transaction at $1.44 per share. On Oct 17, another insider, MURTHY RAMESH, who serves as the SVP, ICFO and CAO of the company, sold 972 shares for $1.38 each. As a result, the insider received 1,341 and left with 275,649 shares of the company.

Stock Price History:

Over the past 52 weeks, GOEV has reached a high of $13.35, while it has fallen to a 52-week low of $1.16. The 50-Day Moving Average of the stock is 1.6877, while the 200-Day Moving Average is calculated to be 3.5618.

Shares Statistics:

Over the past 3-months, GOEV traded about 7.89M shares per day on average, while over the past 10 days, GOEV traded about 14.91M shares per day. A total of 324.50M shares are outstanding, with a floating share count of 264.45M. Insiders hold about 1.80% of the company’s shares, while institutions hold 31.90% stake in the company. Shares short for GOEV as of Oct 13, 2022 were 33.62M with a Short Ratio of 37.15M, compared to 28.81M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 11.89% and a Short% of Float of 19.93%.

Earnings Estimates

Current recommendations for the stock of the company come from 3 analysts. On average, analysts expect EPS of -$0.48 for the current quarter, with a high estimate of -$0.32 and a low estimate of -$0.58, while EPS last year was -$0.35. The consensus estimate for the next quarter is -$0.44, with high estimates of -$0.19 and low estimates of -$0.63.

Analysts are recommending an EPS of between -$1.4 and -$2.42 for the fiscal current year, implying an average EPS of -$1.92. EPS for the following year is -$1.38, with 4 analysts recommending between -$0.66 and -$1.87.

Revenue Estimates

Based on 4 analysts’ estimates, the company’s revenue will be $408.06M in the next fiscal year. The high estimate is $605M and the low estimate is $184.5M. The average revenue growth estimate for next year is up 771.60% from the average revenue estimate for this year.