Canoo Sees Unusually Large Options Volume (NYSE:GOEV)

Canoo Inc. (NYSE:GOEV – Get Rating) saw some unusual options trading activity on Wednesday. Traders purchased 16,829 call options on the company. This represents an increase of 101% compared to the typical volume of 8,387 call options.

Analyst Upgrades and Downgrades

Separately, R. F. Lafferty lowered their target price on shares of Canoo from $15.00 to $6.00 in a research note on Thursday, November 10th.

Insider Activity

In related news, CEO Tony Aquila purchased 4,504,505 shares of Canoo stock in a transaction dated Monday, November 21st. The stock was bought at an average cost of $1.11 per share, for a total transaction of $5,000,000.55. Following the transaction, the chief executive officer now owns 55,737,160 shares in the company, valued at $61,868,247.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Josette Sheeran sold 36,880 shares of Canoo stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $1.44, for a total transaction of $53,107.20. Following the completion of the transaction, the president now directly owns 1,361,511 shares in the company, valued at approximately $1,960,575.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Aquila acquired 4,504,505 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were bought at an average price of $1.11 per share, with a total value of $5,000,000.55. Following the completion of the transaction, the chief executive officer now directly owns 55,737,160 shares in the company, valued at $61,868,247.60. The disclosure for this purchase can be found here. In the last three months, insiders sold 88,693 shares of company stock worth $109,673. Company insiders own 21.90% of the company’s stock.

Institutional Trading of Canoo

Institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of Canoo during the 3rd quarter valued at $28,000. Vontobel Holding Ltd. purchased a new stake in shares of Canoo during the 3rd quarter valued at $30,000. Commonwealth Equity Services LLC purchased a new stake in shares of Canoo during the 3rd quarter valued at $32,000. Principal Financial Group Inc. grew its stake in shares of Canoo by 32.9% during the 2nd quarter. Principal Financial Group Inc. now owns 17,951 shares of the company’s stock valued at $33,000 after buying an additional 4,448 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in shares of Canoo during the 3rd quarter valued at $34,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

Canoo Stock Up 7.1 %

GOEV stock traded up $0.09 during midday trading on Wednesday, hitting $1.36. The stock had a trading volume of 14,330,289 shares, compared to its average volume of 7,407,831. Canoo has a 12-month low of $1.02 and a 12-month high of $6.46. The company’s 50-day moving average price is $1.23 and its 200 day moving average price is $2.13.

Canoo (NYSE:GOEV – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.06. As a group, sell-side analysts expect that Canoo will post -1.86 EPS for the current year.

Canoo Company Profile

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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.