Canoo Inc. [GOEV] 10% Owner makes an insider sale of 600,000 shares worth 2,410,620.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Canoo Inc. shares valued at $2,410,620 were sold by DD Global Holdings Ltd on Jul 21. At $4.02 per share, DD Global Holdings Ltd sold 600,000 shares. The insider’s holdings dropped to 9,693,771 shares worth approximately $34.61 million following the completion of this transaction.


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Also, DD Global Holdings Ltd sold 2,000,000 shares, netting a total of over 8,176,200 in proceeds. Following the sale of shares at $4.09 each, the insider now holds 10,293,771 shares.

Before that, MURTHY RAMESH had sold 4,177 shares from its account. In a trade valued at $16,917, the SVP, ICFO and CAO traded Canoo Inc. shares for $4.05 each. Upon closing the transaction, the insider’s holdings decreased to 4,177 shares, worth approximately $0.99 million.

As published in a research note from ROTH Capital on December 16, 2021, Canoo Inc. [GOEV] has been rated up from a Neutral to a Buy and the price target has been revised to $14 from $9. This represents a 74.5% premium over Thursday’s closing price. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in early September. As of April 20, 2021, BofA Securities has initiated its “an Underperform” rating for GOEV. Earlier on March 30, 2021, ROTH Capital downgraded its rating. Their new recommendation was “a Neutral” for GOEV stock which previously was a “a Buy”.

Analyzing GOEV’s Price Performance

On Thursday, Canoo Inc. [NASDAQ: GOEV] plunged -4.55% to $3.57. The stock’s lowest price that day was $3.54, but it reached a high of $3.9399 in the same session. During the last five days, there has been a drop of approximately -0.28%. Over the course of the year, Canoo Inc. shares have dropped approximately -53.76%. Shares of the company reached a 52-week high of $8.24 on 01/03/22 and a 52-week low of $1.75 on 07/05/22. A 50-day SMA is recorded $3.10, while a 200-day SMA reached $5.81. Nevertheless, trading volume fell to 6.74 million shares from 7.01 million shares the previous day.

Support And Resistance Levels for Canoo Inc. (GOEV)

According to the 24-hour chart, there is a support level at 3.43, which, if violated, would cause prices to drop to 3.28. In the upper region, resistance lies at 3.83. The next price resistance is at 4.08. RSI (Relative Strength Index) is 52.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 76.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Canoo Inc. subject to short interest?

Stocks of Canoo Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.94 million shares to 36.53 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 33.59 million shares. A jump of 8.05% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.46 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.46.

Which companies own the most shares of Canoo Inc. (GOEV)?

According to The Vanguard Group, Inc. filings, the company currently owns 11,669,923 shares, which is about 4.33% of the total GOEV shares outstanding. The investor’s shares have appreciated by 14,770 from its previous 13-F filing of 11655153.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $12,705,819. Invesco Capital Management LLC acquire a 29.67% interest valued at $6.74 million while Geode Capital Management LLC purchased a 107,890 stake. A total of 75,583 shares of Canoo Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 568,105 were bought by BofA Securities, Inc. In its current portfolio, Northern Trust Investments, Inc. holds 1,030,628 shares valued at $1.91 million.

In terms of Canoo Inc. share price expectations, FactSet research, analysts set an average price target of $11.33 in the next 12 months, up nearly 167.38% from the previous closing price of $3.74. Analysts anticipate Canoo Inc. stock to reach $17.00 by 2022, with the lowest price target being $7.00. In spite of this, 3 analysts ranked Canoo Inc. stock as a Buy at the end of 2022. On March 11, 2021, R. F. Lafferty assigned a price target of “a Buy” to the stock and initiated coverage with a $23.

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