Canoo Inc (NASDAQ:GOEV) shares, rose in value, with the stock price down by -6.90% to the previous day’s close as strong demand from buyers drove the stock to $2.70.
Actively observing the price movement in the last trading, the stock closed the session at $2.90. The value of beta (5-year monthly) was 1.24. Referring to stock’s 52-week performance, its high was $19.50, and the low was $1.22. On the whole, GOEV has fluctuated by -21.51% over the past month.
With the market capitalization of Canoo Inc currently standing at about $174.07 million, investors are eagerly awaiting this quarter’s results, scheduled for May 13, 2024 – May 17, 2024.
Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.42M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that GOEV’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GOEV currently trading nearly -3.23% and -1.00% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.88, while the 7-day volatility ratio is showing 15.17% which for the 30-day chart, stands at 15.92%. Furthermore, Canoo Inc (GOEV)’s beta value is 1.26, and its average true range (ATR) is 0.49.
A comparison of Canoo Inc (GOEV) with its peers suggests the former has fared considerably weaker in the market. GOEV showed an intraday change of -6.90% in last session, and over the past year, it shrunk by -84.35%%.
Data on historical trading for Canoo Inc (NASDAQ:GOEV) indicates that the trading volumes over the past 3 months, they’ve averaged 8.72 million. According to company’s latest data on outstanding shares, there are 64.47 million shares outstanding.
Nearly 12.18% of Canoo Inc’s shares belong to company insiders and institutional investors own 5.85% of the company’s shares. The stock has fallen by -54.36% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GOEV stock heading into the next quarter.
