Canoo Inc. [GOEV] stock for 2,466 USD was sold by Ruiz Hector M.

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 $2,466 were sold by Ruiz Hector M. on Sep 16. At $2.71 per share, Ruiz Hector M. sold 910 shares. The insider’s holdings dropped to 272,836 shares worth approximately $0.65 million following the completion of this transaction.

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Also, MURTHY RAMESH sold 169 shares, netting a total of over 458 in proceeds. Following the sale of shares at $2.71 each, the insider now holds 276,621 shares.

Before that, Aquila Tony had added 200,000 shares to its account. In a trade valued at $515,800, the Executive Chairman and CEO bought Canoo Inc. shares for $2.58 each. Upon closing the transaction, the insider’s holdings increased to 200,000 shares, worth approximately $6.57 million.

As published in their initiating research note from Stifel on September 16, 2022, Canoo Inc. [GOEV] has been a Buy and the price target has been revised to $4. This represents a 40.0% premium over Wednesday’s closing price. Analysts at ROTH Capital upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid December. As of September 07, 2021, H.C. Wainwright has initiated its “Buy” rating for GOEV. Earlier on April 20, 2021, BofA Securities initiated its rating. Their recommendation was “an Underperform” for GOEV stock.

Analyzing GOEV’s Price Performance

On Wednesday, Canoo Inc. [NASDAQ: GOEV] rose 3.00% to $2.40. The stock’s lowest price that day was $2.31, but it reached a high of $2.51 in the same session. During the last five days, there has been a drop of approximately -7.69%. Over the course of the year, Canoo Inc. shares have dropped approximately -68.91%. 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 $3.42, while a 200-day SMA reached $4.81. Nevertheless, trading volume fell to 3.69 million shares from 4.95 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 2.30, which, if violated, would cause prices to drop to 2.21. In the upper region, resistance lies at 2.50. The next price resistance is at 2.61. RSI (Relative Strength Index) is 34.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.24, which suggests the price will decrease in the coming days. Percent R is at 88.75%, indicating bearish price movement. Stochastics %K at buying 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 13,402,856 shares, which is about 4.74% of the total GOEV shares outstanding. The investor’s shares have appreciated by 1,732,933 from its previous 13-F filing of 11669923.0 shares. With the completion of the buy transaction, Invesco Capital Management LLC’s stake is now worth $22,195,376. BlackRock Fund Advisors acquire a 1.19% interest valued at $22.17 million while Geode Capital Management LLC purchased a 31,549 stake. A total of -6,000 shares of Canoo Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 1,292,472 by Qube Research & Technologies Ltd. In its current portfolio, Northern Trust Investments, Inc. holds 1,087,157 shares valued at $3.47 million.

In terms of Canoo Inc. share price expectations, FactSet research, analysts set an average price target of $8.13 in the next 12 months, up nearly 200.43% from the previous closing price of $2.33. Analysts anticipate Canoo Inc. stock to reach $15.00 by 2022, with the lowest price target being $3.50. In spite of this, 4 analysts ranked Canoo Inc. stock as an Overweight at the end of 2022.


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