Canoo Inc Stock Today

GOEV Stock  USD 0.10  0.01  9.09%   

Performance

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Odds Of Distress

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Canoo is selling for under 0.1 as of the 3rd of March 2024; that is -9.09 percent decrease since the beginning of the trading day. The stock's lowest day price was 0.1. Canoo has a very high chance of experiencing financial distress in the next few years of operation. It has also generated negative returns for investors over the last 90 days. Equity ratings for Canoo Inc are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 2nd of February 2024 and ending today, the 3rd of March 2024. Please note, there could be an existing legal relationship between Canoo Inc (GOEV) and Hennessy Capital Acq (HCAC). Click here to learn more.
Business Domain
Automobiles & Components
IPO Date
1st of August 2017
Category
Consumer Cyclical
Classification
Consumer Discretionary
Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. Canoo Inc. was founded in 2017 and is headquartered in Torrance, California. Canoo operates under Auto Manufacturers classification in the United States and is traded on NASDAQ Exchange. The company has 1.11 B outstanding shares of which 143.47 M shares are currently shorted by private and institutional investors with about 2.15 trading days to cover. More on Canoo Inc

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Canoo Stock Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Canoo's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Canoo or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
Related EntityHCAC (Hennessy Capital Acquisition)
Executive CEOAnthony Aquila
Thematic Ideas
(View all Themes)
SEC FilingsCanoo Security & Exchange Commission EDGAR Reports
Business ConcentrationAutomobile Manufacturers, Automobiles & Components, Consumer Discretionary, NASDAQ Composite, Cars, Automobiles and Trucks, Consumer Discretionary, Automobiles, Auto Manufacturers, Consumer Cyclical (View all Sectors)
Average Analyst Recommendation
Analysts covering Canoo report their recommendations after researching Canoo's financial statements, talking to executives and customers, or listening in on Canoo's conference calls. The current trade recommendation is based on an ongoing consensus estimate among financial analysts covering Canoo Inc. The Canoo consensus assessment is calculated by taking the average forecast from all of the analysts covering Canoo.
Financial Strength
Based on the analysis of Canoo's profitability, liquidity, and operating efficiency, Canoo Inc is not in a good financial situation at this time. It has a very high probability of going through financial hardship in April. Financial strength of Canoo Inc is based on its profitability, leverage, liquidity, source of funds, and operating efficiency.
Current ValueLast YearChange From Last Year 10 Year Trend
Weighted Shares Diluted334.7 M310.2 M
Significantly Up
Slightly volatile
Weighted Shares334.7 M310.2 M
Significantly Up
Slightly volatile
Current Liabilities270.8 M251 M
Significantly Up
Slightly volatile
Total Liabilities244.8 M298.9 M
Significantly Down
Slightly volatile
Gross Margin0.660.66
Steady
Slightly volatile
Total Debt68.5 M84.5 M
Significantly Down
Slightly volatile
Asset Turnover0.00540.0054
Slightly Down
Slightly volatile
Current Assets61.8 M60.2 M
Fairly Up
Slightly volatile
Total Assets514.2 M570.9 M
Moderately Down
Slightly volatile
Canoo's financial strength is of vital concern to both outside investors and internal stakeholders. Efficiency and cost control are keys to Canoo's success, along with its ability to generate sufficient cash flow to pay bills, repay debt, and make a consistent year-to-year profit.
Financial leverage usually refers to the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand Canoo's financial leverage. It provides some insight into what part of Canoo's total assets is financed by creditors.
By using current balance sheet information, investors can analyze the liability, assets, and equity on Canoo's books and decide whether to invest or hold. Statistics such as return on equity (ROE), debt to equity (D/E) help investors determine how Canoo deploys its capital and how much of that capital is borrowed.
Liquidity
Canoo cash flow analysis is essential to understand how it generates and spends money over a specific period. It can also help you figure out where your money is going and how much cash you have available at a given moment. The company currently holds 73.44 M in liabilities with Debt to Equity (D/E) ratio of 0.14, which may suggest the company is not taking enough advantage from borrowing. Canoo Inc has a current ratio of 0.38, indicating that it has a negative working capital and may not be able to pay financial obligations when due. Debt can assist Canoo until it has trouble settling it off, either with new capital or with free cash flow. So, Canoo's shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Canoo Inc sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Canoo to invest in growth at high rates of return. When we think about Canoo's use of debt, we should always consider it together with cash and equity.

Operating Cash Flow

(388.88 Million)
Canoo Inc (GOEV) is traded on NASDAQ Exchange in USA. It is located in 19951 Mariner Avenue, Torrance, CA, United States, 90503 and employs 812 people. Canoo is listed under Automobile Manufacturers category by Fama And French industry classification. The company currently falls under 'Small-Cap' category with a current market capitalization of 116.84 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Canoo's market, we take the total number of its shares issued and multiply it by Canoo's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities. Canoo Inc conducts business under Automobiles sector and is part of Consumer Discretionary industry. The entity has 1.11 B outstanding shares of which 143.47 M shares are currently shorted by private and institutional investors with about 2.15 trading days to cover. Canoo Inc currently holds about 36.48 M in cash with (262.05 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.13, which can makes it an attractive takeover target, given it will continue generating positive cash flow.
Check Canoo Probability Of Bankruptcy
Ownership Allocation
Canoo Inc retains a total of 1.11 Billion outstanding shares. Almost 84.0 percent of Canoo outstanding shares are held by general public with 2.88 (percent) owned by insiders and only 13.45 % by other corporate entities. Remember, it does not matter who owns the company or if the company is currently losing money. If the true value of the company is more than the market pays for it currently, you can still have a good investment opportunity.
Check Canoo Ownership Details

Canoo Stock Price Odds Analysis

Depending on a normal probability distribution, the odds of Canoo jumping above the current price in 90 days from now is over 95.41%. The Canoo Inc probability density function shows the probability of Canoo stock to fall within a particular range of prices over 90 days. Given the investment horizon of 90 days the stock has a beta coefficient of 1.4873. This usually indicates as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, Canoo will likely underperform. Additionally, the company has a negative alpha, implying that the risk taken by holding this instrument is not justified. Canoo Inc is significantly underperforming NYSE Composite.
  Odds Below 0.1HorizonTargetOdds Above 0.1
4.57%90 days
 0.10 
95.41%
Based on a normal probability distribution, the odds of Canoo to move above the current price in 90 days from now is over 95.41 (This Canoo Inc probability density function shows the probability of Canoo Stock to fall within a particular range of prices over 90 days) .

Canoo Stock Institutional Holders

Institutional Holdings refers to the ownership stake in Canoo that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Canoo's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Canoo's value.
InstituionRecorded OnShares
Morgan Stanley - Brokerage Accounts2023-09-30
832 K
Toroso Investments Llc2023-09-30
603.9 K
Virtu Financial Llc2023-09-30
544.9 K
Nuveen Asset Management, Llc2023-09-30
491 K
Credit Suisse First Boston (csfb)2023-09-30
404.3 K
Susquehanna International Group, Llp2023-09-30
390.1 K
Amundi2023-09-30
388.2 K
California State Teachers Retirement Sys2023-09-30
375.9 K
Group One Trading, Lp2023-09-30
308.9 K
Vanguard Group Inc2023-09-30
25.1 M
Infini Capital Management Ltd2023-09-30
16.7 M
View Canoo Diagnostics

Canoo Historical Income Statement

Canoo Inc Income Statement is one of the three primary financial statements used for reporting Canoo's overall financial performance over a current year or for a given accounting period. An Income Statement sometimes referred to as the statement of Canoo Inc revenue and expense. Canoo Income Statement primarily focuses on the company's revenues and expenses during a particular period.
At this time, Canoo's Interest Expense is fairly stable as compared to the past year. Selling General and Administrative Expense is likely to climb to about 243.2 M in 2024, whereas Earning Before Interest and Taxes EBIT is likely to drop (448.4 M) in 2024. View More Fundamentals

Canoo Stock Against Markets

Picking the right benchmark for Canoo stock is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Canoo stock price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Canoo is critical whether you are bullish or bearish towards Canoo Inc at a given time. Please also check how Canoo's historical prices are related to one of the top price index indicators.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canoo without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Canoo Corporate Management

Elected by the shareholders, the Canoo's board of directors comprises two types of representatives: Canoo inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Canoo. The board's role is to monitor Canoo's management team and ensure that shareholders' interests are well served. Canoo's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Canoo's outside directors are responsible for providing unbiased perspectives on the board's policies.
Richard KimChief OfficerProfile
Ram BalasubramanianChief OfficerProfile
Hector RuizGeneral SecretaryProfile
Ramesh MurthySenior OfficerProfile
Kate LengyelChief OfficerProfile

How to buy Canoo Stock?

Before investing in Canoo, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in Canoo. To buy Canoo stock, you can follow these steps:
  • Choose a brokerage firm: You need to select a brokerage firm to buy shares of Canoo. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
  • Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
  • Fund your account: You will need to deposit funds into your brokerage account to purchase Canoo stock. You can do this by transferring funds from your bank account or other investment accounts.
  • Place your order: Once you have located Canoo Inc stock in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
  • Monitor your investment: After you have purchased Canoo Inc stock, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the stock
It's important to note that investing in stocks, such as Canoo Inc, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in stock prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments. For more information on how to buy Canoo Stock please use our How to Invest in Canoo guide.

Already Invested in Canoo Inc?

The danger of trading Canoo Inc is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Canoo is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Canoo. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Canoo Inc is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Canoo Inc is a strong investment it is important to analyze Canoo's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Canoo's future performance. For an informed investment choice regarding Canoo Stock, refer to the following important reports:
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Canoo Inc. Also, note that the market value of any Company could be tightly coupled with the direction of predictive economic indicators such as signals in income.
Note that the Canoo Inc information on this page should be used as a complementary analysis to other Canoo's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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When running Canoo's price analysis, check to measure Canoo's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canoo is operating at the current time. Most of Canoo's value examination focuses on studying past and present price action to predict the probability of Canoo's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canoo's price. Additionally, you may evaluate how the addition of Canoo to your portfolios can decrease your overall portfolio volatility.
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Is Canoo's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canoo. If investors know Canoo will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canoo listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(0.72)
Revenue Per Share
0.001
Return On Assets
(0.37)
Return On Equity
(1.80)
The market value of Canoo Inc is measured differently than its book value, which is the value of Canoo that is recorded on the company's balance sheet. Investors also form their own opinion of Canoo's value that differs from its market value or its book value, called intrinsic value, which is Canoo's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canoo's market value can be influenced by many factors that don't directly affect Canoo's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canoo's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canoo is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canoo's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.