Analyze Canoo Inc. (NASDAQ: GOEV) Before Investing. – Stocks Register
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Analyze Canoo Inc. (NASDAQ: GOEV) Before Investing.

Canoo Inc. (NASDAQ:GOEV) price closed lower on Tuesday, September 14, dropping -1.71% below its previous close.

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A look at the daily price movement shows that the last close reads $7.00, with intraday deals fluctuated between $6.79 and $7.19. Taking into account the 52-week price action we note that the stock hit a 52-week high of $24.90 and 52-week low of $5.75. The stock subtracted -1.99% on its value in the past month.


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Canoo Inc., which has a market valuation of $1.72 billion, is expected to release its quarterly earnings report May 17, 2021. Analysts tracking GOEV have forecast the quarterly EPS to shrink by -0.42 per share this quarter, while the same analysts predict the annual EPS to hit -$1.44 for the year 2021 and up to -$1.38 for 2022. In this case, analysts estimate an annual EPS growth of -77.80% for the year and 4.20% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $45 million, with the likely lows of $45 million and highs of $45 million. Staying with the analyst view, there is a consensus estimate of $50 million for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 1,860.80% above that which the company brought in 2021.

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 -3.05% off the SMA20 and -12.28% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 42.25, with weekly volatility standing at 6.86%. The indicator jumps to 7.96% when calculated based on the past 30 days. Canoo Inc. (NASDAQ:GOEV)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.51.

An analysis of the Canoo Inc. (NASDAQ:GOEV) stock in terms of its daily trading volume indicates that the 3-month average is 3.40 million. However, this figure increases on the past 10-day timeline to an average of 2.34 million.

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Current records show that the company has 250.31M in outstanding shares. The insiders’ percentage holdings are 0.30% of outstanding shares while the percentage share held by institutions stands at 16.30%. The stats also highlight that short interest as of May 27, 2021, stood at 29.49 million shares, which puts the short ratio at the time at 11.57. From this we can glean that short interest is 12.41% of company’s current outstanding shares. Notably, we see that shares short in May rose slightly given the previous month’s figure stood at 28.21 million. But the -50.14% 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.

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