Home  »  Finance   »  These Numbers Show Just How Powerful Canoo Inc (NA...

These Numbers Show Just How Powerful Canoo Inc (NASDAQ: GOEV) Stock ‎Is

Canoo Inc (NASDAQ:GOEV) price closed lower on Monday, February 12, dropping -1.87% below its previous close.

A look at the daily price movement shows that the last close reads $0.16. The company’s 5Y monthly beta was ticking 1.30. Taking into account the 52-week price action we note that the stock hit a 52-week high of $1.02 and 52-week low of $0.15. The stock subtracted -27.74% on its value in the past month.

#1 Small-Cap Uranium Stock for Ultra-Fast Gains in 2024

We've uncovered THE ONE small-cap uranium stock that has unearthed a near-surface, high-grade uranium discovery in the Saudi Arabia of Uranium — Canada's prolific Athabasca Basin. Best of all, this small-cap uranium stock is currently flying just below Wall Street's radar… giving you the early-entry opportunity around US$0.30 per share. But that won't last long. Drills are turning right now with results set to be released to the market very, very soon.

Learn all about it in this brand new FREE online report.
Sponsored

Canoo Inc, which has a market valuation of $145.99 million, is expected to release its quarterly earnings report Mar 28, 2024 – Apr 01, 2024. Analysts tracking GOEV have forecast the quarterly EPS to shrink by -0.08 per share this quarter, while the same analysts predict the annual EPS to hit -$0.6 for the year 2024 and up to -$0.4 for 2024. In this case, analysts estimate an annual EPS growth of 66.90% for the year and 33.30% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $720k, with the likely lows of $200k and highs of $1.02 million. Staying with the analyst view, there is a consensus estimate of $1.17 million for the company’s annual revenue in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give GOEV a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that GOEV’s price is at present -12.47% off the SMA20 and -30.73% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 37.98, with weekly volatility standing at 7.59%. The indicator jumps to 11.58% when calculated based on the past 30 days. Canoo Inc (NASDAQ:GOEV)’s beta value is holding at 1.26, while the average true range (ATR) indicator is currently reading 0.02.

An analysis of the Canoo Inc (NASDAQ:GOEV) stock in terms of its daily trading volume indicates that the 3-month average is 1.30. However, this figure increases on the past 10-day timeline to an average of 76.84 million.

Current records show that the company has 959.84M in outstanding shares. The insiders’ percentage holdings are 16.06% of outstanding shares while the percentage share held by institutions stands at 8.40%. The stats also highlight that short interest as of Jan 31, 2024, stood at 96.24 million shares, which puts the short ratio at the time at 1.35. From this we can glean that short interest is 9.31% of company’s current outstanding shares. Notably, we see that shares short in January fall slightly given the previous month’s figure stood at 108.22 million. But the -40.86% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.