In spite of Canoo Inc.’s (NASDAQ:GOEV) recent upswing, most analysts remain bearish.

In the latest session, Canoo Inc. (NASDAQ: GOEV) closed at $1.33 up 7.26% from its previous closing price of $1.24. In other words, the price has increased by $+0.0900 from its previous closing price. On the day, 9947291 shares were traded. GOEV stock price reached its highest trading level at $1.3350 during the session, while it also had its lowest trading level at $1.2200.

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For a deeper understanding of Canoo Inc.’s stock, let’s take a closer look at its various 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:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Jan 18 when MURTHY RAMESH sold 1,182 shares for $1.33 per share. The transaction valued at 1,572 led to the insider holds 293,052 shares of the business.

Ruiz Hector M. sold 14,384 shares of GOEV for $15,822 on Jan 06. The GENERAL COUNSEL, CORP SECY now owns 291,980 shares after completing the transaction at $1.10 per share. On Jan 06, another insider, MURTHY RAMESH, who serves as the SVP, ICFO and CAO of the company, sold 13,832 shares for $1.10 each. As a result, the insider received 15,215 and left with 294,234 shares of the company.

Stock Price History:

Over the past 52 weeks, GOEV has reached a high of $6.46, while it has fallen to a 52-week low of $1.02. The 50-Day Moving Average of the stock is 1.2493, while the 200-Day Moving Average is calculated to be 2.6408.

Shares Statistics:

For the past three months, GOEV has traded an average of 9.57M shares per day and 7.16M over the past ten days. A total of 345.02M shares are outstanding, with a floating share count of 298.19M. Insiders hold about 3.00% of the company’s shares, while institutions hold 29.90% stake in the company. Shares short for GOEV as of Oct 13, 2022 were 33.62M with a Short Ratio of 58.86M, 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

There are 3 different market analysts currently analyzing its stock. 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.