Canoo Inc. (NYSE:GOEV – Get Rating) was the target of unusually large options trading activity on Monday. Traders purchased 18,277 call options on the stock. This is an increase of 66% compared to the typical daily volume of 10,992 call options.
Canoo Trading Down 3.8 %
GOEV stock opened at $0.72 on Wednesday. The company has a market cap of $340.62 million, a price-to-earnings ratio of -0.38 and a beta of 1.21. Canoo has a 12 month low of $0.50 and a 12 month high of $5.26. The firm has a 50-day moving average of $0.70 and a two-hundred day moving average of $1.09.
Hedge Funds Weigh In On Canoo
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC purchased a new stake in Canoo in the third quarter valued at $330,000. AXA S.A. purchased a new stake in shares of Canoo in the third quarter valued at about $865,000. Independent Wealth Network Inc. purchased a new position in shares of Canoo during the third quarter valued at approximately $131,000. Bayesian Capital Management LP purchased a new position in shares of Canoo during the third quarter valued at approximately $133,000. Finally, MetLife Investment Management LLC lifted its stake in shares of Canoo by 166.0% during the third quarter. MetLife Investment Management LLC now owns 96,007 shares of the company’s stock valued at $180,000 after buying an additional 59,908 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.
Canoo Company Profile
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.
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