Streetbeat News

GOEV

Canoo Inc.

https://www.canoo.com

Industry

Auto - Manufacturers

Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers lifestyle delivery vehicles, lifestyle vehicles, multi-purpose delivery vehicles, and pickups. It also provides multi-purpose platform architecture is a self-contained, fully functional rolling chassis design to support various range of vehicle weight and ride profiles. The company serves to small businesses, independent contractors, tradespeople, utilities, and service technicians. Canoo Inc. was founded in 2017 and is headquartered in Torrance, California.

Open

0.55

Mkt cap

44M

Volume

4.4M

High

0.56

P/E Ratio

-0.08

52-wk high

8.81

Low

0.50

Div yield

N/A

52-wk low

0.37

In Wednesday's after-market session, several consumer discretionary stocks saw movement. Kaixin Auto Hldgs, Rent the Runway, Golden Heaven Group Hldgs, PetMed Express, Boqii Holding, and Cedar Fair experienced gains, while Volcon, J-Long Group, Boot Barn Holdings, Canoo, Connexa Sports Techs, and SRIVARU Holding saw declines. Notably, Boot Barn Holdings' stock drop followed their Q3 earnings report.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 9:31 pm

In Wednesday's intraday session, several consumer discretionary stocks experienced significant movements. Connexa Sports Techs (CNXA) saw a notable increase of 128.0% to $0.45, while Kaixin Auto Hldgs (KXIN) suffered a sharp decline of 45.2% to $0.4. Other gainers included Envirotech Vehicles (EVTV), Jiuzi Hldgs (JZXN), 17 Education & Technology (YQ), Canoo (GOEV), and Naas Technology (NAAS). Conversely, Esports Entertainment (GMBL), Selina Hospitality (SLNA), Boqii Holding (BQ), Polished.com (POL), and BowFlex (BFX) were among the losers.

Portfolio Pulse from Benzinga Insights

January 31, 2024 | 5:31 pm

Shares of electric vehicle (EV) stocks are experiencing an uptick following a report by CleanTechnica that indicated a 29% increase in Q4 sales of pure electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 7:54 pm

Canoo Inc. (NASDAQ:GOEV) has announced a deal with the U.S. Postal Service (USPS) to supply six electric vehicles as part of USPS's $40 billion investment strategy. The vehicles, Canoo's Lifestyle Delivery Vehicle 190 (LDV 190), are expected to be delivered in Q1 2024. This purchase aligns with USPS's goal to have 66,000 EVs by 2028, including 45,000 battery-electric Next Generation Delivery Vehicles. USPS's total EV procurement plans include 21,000 vehicles, with 9,250 from Ford Motor Co, depending on market and operational factors.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 2:46 am

Canoo has secured a deal with the U.S. Postal Service to supply six electric vehicles, specifically the right-hand drive versions of the LDV 190, with delivery expected in Q1 2024. This deal is part of the USPS's $40 billion investment strategy to modernize its fleet.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:07 am

Stifel analyst J. Bruce Chan has maintained a Buy rating on Canoo (NASDAQ:GOEV) but has reduced the price target from $1.5 to $0.75.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 5:20 pm

Electric vehicle stocks, including Tesla, Rivian, and Fisker, faced challenges this week with Tesla's price cuts and Elon Musk's demand for more control, Rivian's downgrade by Deutsche Bank, and Fisker's probe into braking issues. Tesla's price adjustments and Musk's comments may affect investor sentiment ahead of earnings, while Rivian's downgrade reflects concerns over future losses and production issues. Fisker is cooperating with a federal probe into braking issues but asserts its systems meet requirements. The KraneShares Electric Vehicles ETF also saw a decline.

Portfolio Pulse from Shanthi Rexaline

January 20, 2024 | 2:04 pm

Canoo (NYSE:GOEV) has seen a decrease in short interest, with the short percent of float dropping 10.94% since the last report. The company has 108.22 million shares sold short, representing 15.55% of available shares. The average time to cover these short positions is 2.72 days. While a decrease in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term price rise. Canoo's short interest is higher than its peer group average of 12.26%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 8:45 pm

Canoo has delivered electric vehicles to Kingbee, a provider of work-ready vans. This marks a significant step for Canoo in its efforts to establish itself in the commercial EV market.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 12:05 pm

Electric vehicle stocks, including Tesla, Lucid Group, and XPeng, faced declines amid investor concerns over Tesla's price cuts in China and a bearish EV market. Tesla's refreshed Model 3 launched in North America, but price reductions in China may lead to lower earnings estimates. Hertz plans to sell a portion of its EV fleet to reinvest in ICE vehicles, reversing its previous EV-focused strategy. Lucid reported lower Q4 production and deliveries year-over-year. XPeng showcased a flying car at CES 2024 and plans to open pre-orders in Q4. Canoo acquired manufacturing assets at a discount but saw its stock fall. Honda unveiled '0' series concept EVs at CES with a potential North American launch in 2026. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) also dropped.

Portfolio Pulse from Shanthi Rexaline

January 13, 2024 | 2:03 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.