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The Benchmark Company gives a Buy recommendation for Canoo Inc (GOEV)

Canoo Inc’s recent filing unveils that its GENERAL COUNSEL, CORP SECY Ruiz Hector M. unloaded Company’s shares for reported $119.0 on Feb 07 ’24. In the deal valued at $0.16 per share,745 shares were sold. As a result of this transaction, Ruiz Hector M. now holds 283,355 shares worth roughly $0.79 million.

Then, MURTHY RAMESH sold 1,217 shares, generating $219 in total proceeds. Upon selling the shares at $0.18, the SVP and CAO now owns 283,669 shares.

Before that, Ruiz Hector M. sold 3,444 shares. Canoo Inc shares valued at $792 were divested by the GENERAL COUNSEL, CORP SECY at a price of $0.23 per share. As a result of the transaction, Ruiz Hector M. now holds 284,100 shares, worth roughly $0.79 million.

The Benchmark Company initiated its Canoo Inc [GOEV] rating to a Buy in a research note published on April 17, 2024; the price target was $5. A number of analysts have revised their coverage, including Wedbush’s analysts, who began to cover the stock in early January with a ‘”an Outperform”‘ rating. Stifel began covering GOEV with “Buy” recommendation on September 16, 2022. ROTH Capital revised its rating on December 16, 2021. It rated GOEV as “a Buy” which previously was an “a Neutral”.

Price Performance Review of GOEV

On Tuesday, Canoo Inc [NASDAQ:GOEV] saw its stock jump 2.57% to $2.79. Over the last five days, the stock has gained 8.14%. Canoo Inc shares have fallen nearly -52.84% since the year began. Nevertheless, the stocks have fallen -79.39% over the past one year. While a 52-week high of $19.50 was reached on 01/08/24, a 52-week low of $1.22 was recorded on 03/14/24. SMA at 50 days reached $2.71, while 200 days put it at $6.31. A total of 7.65 million shares were traded, compared to the trading of 4.89 million shares in the previous session.

Levels Of Support And Resistance For GOEV Stock

The 24-hour chart illustrates a support level at 2.68, which if violated will result in even more drops to 2.57. On the upside, there is a resistance level at 2.96. A further resistance level may holdings at 3.13. The Relative Strength Index (RSI) on the 14-day chart is 51.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.94%. Stochastics %K at 39.49% indicates the stock is a holding.

The most recent change occurred on September 07, 2021 when H.C. Wainwright began covering the stock and recommended ‘”a Buy”‘ rating along with a $15 price target.

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