The Manufacturers Life Insurance Company Invests $35,000 in Canoo Inc. (NASDAQ:GOEV)

The Manufacturers Life Insurance Company bought a new stake in Canoo Inc. (NASDAQ:GOEV) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,285 shares of the company’s stock, valued at approximately $35,000.

Several other large investors have also recently added to or reduced their stakes in GOEV. MBL Wealth LLC acquired a new position in shares of Canoo during the 2nd quarter valued at about $31,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Canoo in the 2nd quarter valued at $35,000. Point72 DIFC Ltd purchased a new stake in shares of Canoo during the 2nd quarter valued at $37,000. Curbstone Financial Management Corp acquired a new stake in shares of Canoo during the 2nd quarter worth $43,000. Finally, Headlands Technologies LLC purchased a new position in shares of Canoo in the 2nd quarter worth $60,000. 36.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOEV has been the subject of a number of research reports. HC Wainwright lowered their price target on Canoo from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Roth Mkm dropped their target price on shares of Canoo from $3.00 to $1.50 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.04.

Canoo Price Performance

Shares of GOEV opened at $0.95 on Tuesday. Canoo Inc. has a 12 month low of $0.88 and a 12 month high of $8.81. The stock has a market cap of $65.30 million, a PE ratio of -0.09 and a beta of 1.27. The stock’s 50-day moving average is $1.19 and its two-hundred day moving average is $1.92.

Canoo (NASDAQ:GOEV) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.68. The firm had revenue of $0.61 million during the quarter, compared to analyst estimates of $1.99 million. On average, research analysts anticipate that Canoo Inc. will post -3.72 earnings per share for the current year.

Canoo Company Profile

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.