284,254 Shares in Canoo Inc. (NASDAQ:GOEV) Purchased by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in shares of Canoo Inc. (NASDAQ:GOEV) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 284,254 shares of the company’s stock, valued at approximately $280,000. Virtu Financial LLC owned about 0.35% of Canoo at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Canoo by 25.6% during the third quarter. Geode Capital Management LLC now owns 1,679,627 shares of the company’s stock valued at $1,652,000 after buying an additional 341,897 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Canoo during the 2nd quarter valued at $392,000. Rhumbline Advisers bought a new position in Canoo in the 2nd quarter valued at $153,000. State Street Corp increased its stake in Canoo by 2.8% in the third quarter. State Street Corp now owns 2,309,656 shares of the company’s stock worth $2,272,000 after purchasing an additional 63,652 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of Canoo by 74.9% during the second quarter. EP Wealth Advisors LLC now owns 121,739 shares of the company’s stock worth $259,000 after purchasing an additional 52,131 shares during the last quarter. 36.23% of the stock is owned by hedge funds and other institutional investors.

Canoo Price Performance

GOEV stock opened at $0.12 on Wednesday. Canoo Inc. has a 1-year low of $0.11 and a 1-year high of $7.08. The business has a 50-day moving average price of $0.57 and a 200 day moving average price of $1.30. The company has a market capitalization of $11.36 million, a P/E ratio of -0.03 and a beta of 1.14.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price target on shares of Canoo from $4.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.71.

About Canoo

Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.