Fintel reports that on January 5, 2024, Wedbush initiated coverage of Canoo (NasdaqCM:GOEV) with a Outperform recommendation.
Analyst Price Forecast Suggests 669.54% Upside
As of December 16, 2023, the average one-year price target for Canoo is 1.64. The forecasts range from a low of 0.30 to a high of $3.15. The average price target represents an increase of 669.54% from its latest reported closing price of 0.21.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Canoo is 997MM, an increase of 192,000.19%. The projected annual non-GAAP EPS is -1.24.
What is the Fund Sentiment?
There are 189 funds or institutions reporting positions in Canoo. This is a decrease of 25 owner(s) or 11.68% in the last quarter. Average portfolio weight of all funds dedicated to GOEV is 0.17%, a decrease of 22.06%. Total shares owned by institutions increased in the last three months by 0.67% to 79,615K shares. 
The put/call ratio of GOEV is 0.12, indicating a bullish outlook.
What are Other Shareholders Doing?
Infini Capital Management holds 16,740K shares representing 2.13% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 14,732K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 13,189K shares, representing an increase of 10.48%. The firm increased its portfolio allocation in GOEV by 18.51% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 7,334K shares representing 0.93% ownership of the company. In it's prior filing, the firm reported owning 4,150K shares, representing an increase of 43.41%. The firm increased its portfolio allocation in GOEV by 87.43% over the last quarter.
Geode Capital Management holds 4,682K shares representing 0.60% ownership of the company. In it's prior filing, the firm reported owning 4,036K shares, representing an increase of 13.78%. The firm increased its portfolio allocation in GOEV by 20.19% over the last quarter.
Millennium Management holds 2,571K shares representing 0.33% ownership of the company. In it's prior filing, the firm reported owning 4,042K shares, representing a decrease of 57.18%. The firm decreased its portfolio allocation in GOEV by 33.44% over the last quarter.
Canoo Background Information
(This description is provided by the company.)
Canoo is a Los Angeles-based company that has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first. Distinguished by its experienced team – totaling over 350 employees from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses.
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