GOEV (Canoo Inc.): Time to Pay Attention?

After finishing at $0.59 in the prior trading day, Canoo Inc. (NASDAQ: GOEV) closed at $0.58, down -0.85%. In other words, the price has decreased by -$0.0050 from its previous closing price. On the day, 25440016 shares were traded. GOEV stock price reached its highest trading level at $0.6290 during the session, while it also had its lowest trading level at $0.5803.

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Ratios:

Our goal is to gain a better understanding of GOEV by taking a closer 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 Feb 16 when MURTHY RAMESH sold 640 shares for $0.91 per share. The transaction valued at 582 led to the insider holds 292,412 shares of the business.

MURTHY RAMESH sold 1,182 shares of GOEV for $1,572 on Jan 18. The SVP, ICFO and CAO now owns 293,052 shares after completing the transaction at $1.33 per share. On Jan 06, another insider, Ruiz Hector M., who serves as the GENERAL COUNSEL, CORP SECY of the company, sold 14,384 shares for $1.10 each. As a result, the insider received 15,822 and left with 291,980 shares of the company.

Stock Price History:

Over the past 52 weeks, GOEV has reached a high of $6.25, while it has fallen to a 52-week low of $0.55. The 50-Day Moving Average of the stock is 1.0095, while the 200-Day Moving Average is calculated to be 2.0148.

Shares Statistics:

The stock has traded on average 18.99M shares per day over the past 3-months and 26.15M shares per day over the last 10 days, according to various share statistics. A total of 428.62M shares are outstanding, with a floating share count of 381.79M. 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 Jan 30, 2023 were 51.55M with a Short Ratio of 49.88M, compared to 58.86M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 14.46% and a Short% of Float of 17.62%.

Earnings Estimates

Its stock is currently analyzed by 2 different market analysts. On average, analysts expect EPS of -$0.35 for the current quarter, with a high estimate of -$0.31 and a low estimate of -$0.39, while EPS last year was -$0.6. The consensus estimate for the next quarter is -$0.42, with high estimates of -$0.42 and low estimates of -$0.42.

Analysts are recommending an EPS of between -$1.37 and -$2 for the fiscal current year, implying an average EPS of -$1.77. EPS for the following year is -$1.44, with 2 analysts recommending between -$1.44 and -$1.45.

Revenue Estimates

Based on 3 analysts’ estimates, the company’s revenue will be $305.91M in the next fiscal year. The high estimate is $385M and the low estimate is $190M. The average revenue growth estimate for next year is up 10,097.00% from the average revenue estimate for this year.