Kalos Management Inc. reduced its stake in Canoo Inc. (NYSE:GOEV) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,110 shares of the company’s stock after selling 2,325 shares during the quarter. Kalos Management Inc.’s holdings in Canoo were worth $621,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Canoo in the 2nd quarter valued at about $62,000. Commonwealth Equity Services LLC bought a new position in Canoo in the 1st quarter valued at about $90,000. Enlightenment Research LLC bought a new position in Canoo in the 1st quarter valued at about $98,000. Principal Financial Group Inc. bought a new position in shares of Canoo during the second quarter worth approximately $108,000. Finally, Royal Bank of Canada increased its holdings in shares of Canoo by 504.3% during the first quarter. Royal Bank of Canada now owns 11,270 shares of the company’s stock worth $102,000 after purchasing an additional 9,405 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE GOEV traded down $0.09 during trading hours on Wednesday, hitting $6.60. 15,729 shares of the stock were exchanged, compared to its average volume of 4,660,372. The company has a market cap of $1.57 billion, a PE ratio of -4.81 and a beta of 0.23. The company’s fifty day simple moving average is $7.55 and its two-hundred day simple moving average is $8.95. Canoo Inc. has a 1-year low of $5.75 and a 1-year high of $24.90.
Several brokerages have recently commented on GOEV. Zacks Investment Research cut shares of Canoo from a “hold” rating to a “sell” rating in a report on Thursday, August 19th. HC Wainwright began coverage on shares of Canoo in a report on Tuesday, September 7th. They set a “buy” rating and a $15.00 target price on the stock. Roth Capital lowered their target price on shares of Canoo from $10.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, August 17th. Finally, R. F. Lafferty raised their target price on shares of Canoo from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, July 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.25.
Canoo Inc, a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers B2B delivery vehicles, multi-purpose delivery vehicles, and lifestyle vehicles using skateboard architecture technology.
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