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 B2B delivery vehicles, multi-purpose delivery vehicles, and lifestyle vehicles using skateboard architecture technology. It intends to serve small businesses, independent contractors, service technicians, retailers, corporations, logistics companies, fleet managers, and others. The company was incorporated in 2017 and is headquartered in Torrance, California.
IPO Year: 2019
Exchange: NASDAQ
Website: canoo.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
5/15/2024 | Buy → Hold | R. F. Lafferty | |
4/17/2024 | $5.00 | Buy | The Benchmark Company |
1/5/2024 | $4.00 | Outperform | Wedbush |
9/16/2022 | $4.00 | Buy | Stifel |
12/16/2021 | $9.00 → $14.00 | Neutral → Buy | ROTH Capital |
9/7/2021 | $15.00 | Buy | HC Wainwright & Co. |
8/17/2021 | $10.00 → $7.00 | Neutral | Roth Capital |
JUSTIN, Texas, June 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it has received the first of two tranches of new or like-new advanced manufacturing assets, formerly owned by Arrival Automotive UK Limited, at its Foreign Trade Zone (FTZ) designated facility in Oklahoma City, OK. The received assets will bolster in-house processes and enable higher cabin line production volumes in 2025. Canoo received 44 containers with 226 lots of advanced manufacturing assets including state-of-the-art robots along with a suite of comprehensive production infrastructure. These assets will streamline Canoo's production processes, lead
Quarterly Adjusted EBITDA was $(48.3) million, an improvement of 28.0% (or $18.8 million) versus Q1 2023 and an improvement of 11.5% (or $6.3 million) versus Q4 2023Adjusted Net Loss Per Share was $(1.13) per share, a 34.6% Improvement from $(1.73) per share in Q4 2023Increased Purchases of Long Lead Time New and Like New Equipment at Large Discounts by Six Times in Q1 2024 versus Q4 2023; Reduces Future Capital Expenditures by Approximately $50 million in 2024Active Discussions on Additional Purchases of Deeply Discounted EquipmentDeliveries to US Postal Service of Right-Hand Drive LDV 190s; On the Road Delivering MailEnters $30 Billion TAM Saudi Arabia Market with Commercial Vehicle SalesD
Justin, TX, May 03, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter ended March 31, 2024 after market close on Tuesday, May 14, 2024. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period. Those interested are invited to listen to the live webcast online here. A replay of the webcast will be available shortly afterwards here. Date: Tuesday, May 14, 2024Time: 5:00 pm ETU.S. Dial-in: 877-407-9169International Dial-in: 201-493-6755Access ID: 13746555 An audio replay of the call will be availa
45% or $184.2 million Annual Adjusted EBITDA Improvement from $(408.6) million in 2022 to $(224.4) million in 202340% or $11.9 million Reduction in Capital Expenditures versus already reduced 2023 Second-Half GuidanceSecured USPS Agreement to Purchase Right Hand Drive LDV 190sStarted Commercial Fleet Customer DeliveriesAcquired Advanced Manufacturing Assets at Deep Discounts Reducing Anticipated Capital Expenditures by ~34%Oklahoma City Manufacturing Facility Designated as Foreign Trade Zone ("FTZ") Opening International Expansion and Delivers up to $70.0 million in Estimated Vehicle Cost Savings and Duty Deferrals in 2024 and 2025Appointed Former NASA Chief Technology Officer Deborah Diaz a
Justin, TX, March 25, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a leading high-tech advanced mobility company, today announced that it completed the acquisition of a substantial portion of the advanced manufacturing assets that were previously owned by Arrival Automotive UK Limited. The purchased assets will be collected into more than 20 containers and shipped by sea to Canoo's manufacturing facilities in Oklahoma. As announced in January 2024, Canoo previously acquired substantially all of the new and like-new assets owned by Arrival Automotive USA, Inc. These assets were transported from Arrival's North Carolina facility and received at Canoo's Oklahoma facility where commissio
Justin, TX, March 11, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter and full year ended December 31, 2023 after market close on Monday, April 1, 2024. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period. Those interested are invited to listen to the live webcast online here. A replay of the webcast will be available shortly afterwards here. Date: Monday, April 1, 2024 Time: 5:00 pm ET U.S. Dial-in: 877-407-9169 International Dial-in: 201-493-6755 Access ID: 13744832 An audio replay of t
Justin, Texas, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a leading high-tech advanced mobility company, today announced the purchase of manufacturing assets at dramatically reduced prices to scale production at its Oklahoma City facility. Canoo purchased a cache of manufacturing assets, from robotics to controls processing equipment that will be used to build vehicle cabins. As Canoo scales manufacturing to make additional customer deliveries in 2024, the company is continuously exploring ways to acquire high-value equipment at reduced prices through alternative routes. Canoo purchased the assets at a discounted price of over 80 percent of estimated value. "We are a creat
Accelerating revenue generation phaseDelivering first units to state of Oklahoma as part of up to 1,000-unit agreementCommissioned ladder frame and battery linesLDV 190 undergoing customer evaluation and testingAnnounced the American Bulldog, builds upon rapid product development and real-world testingJUSTIN, Texas, Nov. 14, 2023 /PRNewswire/ -- Canoo Inc. (NASDAQ:GOEV), a high-tech mobility company, today announced its financial results for the third quarter of 2023. "We are now in our manufacturing and revenue-generation phase, while we still have things left to prove. We ha
JUSTIN, Texas, Oct. 2, 2023 /PRNewswire/ -- Canoo (NASDAQ:GOEV), a leading high-tech advanced mobility company, announced today that it has entered into a purchase agreement with a foreign strategic institutional investor, for an investment of $45 million. Canoo and the investor agreed to work together in good faith to negotiate one or more additional investments for up to $150 million. The closing and sale are expected to occur as promptly as practicable, subject to customary closing conditions. Tony Aquila, Chairman, Investor, and CEO, commented, "The capital raised through
SEC matter is settledIntroduced a derivative of the Lifestyle Delivery Vehicle (LDV), the LDV 190Achieved installed manufacturing capacity at Oklahoma City and Pryor, Oklahoma locationsGenerated first revenues from vehicle deliveries and government contractClosed on Fortune 100 customer agreement to purchase vehicles for national fleetJUSTIN, Texas, Aug. 14, 2023 /PRNewswire/ -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced its financial results for the second quarter of 2023. "We are pleased to close the chapter involving the legacy SEC matt
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R. F. Lafferty downgraded Canoo from Buy to Hold
The Benchmark Company initiated coverage of Canoo with a rating of Buy and set a new price target of $5.00
Wedbush initiated coverage of Canoo with a rating of Outperform and set a new price target of $4.00
Stifel initiated coverage of Canoo with a rating of Buy and set a new price target of $4.00
ROTH Capital upgraded Canoo from Neutral to Buy and set a new price target of $14.00 from $9.00 previously
HC Wainwright & Co. initiated coverage of Canoo with a rating of Buy and set a new price target of $15.00
Roth Capital reiterated coverage of Canoo with a rating of Neutral and set a new price target of $7.00 from $10.00 previously
Roth Capital reiterated coverage of Canoo with a rating of Neutral and set a new price target of $10.00 from $7.00 previously
B of A Securities initiated coverage of Canoo with a rating of Underperform and set a new price target of $6.00
BofA Securities initiated coverage of Canoo with a rating of Underperform
Justin, Texas, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), an advancing high-tech mobility company, today announced appointments of two leaders in electric mobility, public policy, clean energy, technology, and cybersecurity to the company's Board of Directors. The appointments of Ms. Deborah Diaz and Mr. James Chen are effective immediately."I'm excited to strengthen the board with the additions of Deborah and James," said Tony Aquila, Investor, Executive Chairman, and CEO of Canoo. "As innovators and leaders, they will support Canoo and its team achieve our strategic growth objectives and increase our market penetration."Deborah B. Diaz previously served as former Chief T
JUSTIN, Texas, Aug. 28, 2023 /PRNewswire/ -- Canoo (NASDAQ:GOEV), a leading high-tech advanced mobility company, announced it has named current Board Member Greg Ethridge as Chief Financial Officer, succeeding Ken Manget. Ethridge will report to Canoo Chairman and CEO, Tony Aquila. This move is effective immediately, and Ethridge will assume responsibilities for capital markets, investor relations, accounting & financial reporting functions. Ethridge agrees to resign from Canoo's Board of Directors by the end of the year. "I am pleased to announce the appointment of Greg to
JUSTIN, Texas, Jan. 26, 2023 /PRNewswire/ -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today named Ken Manget, Chief Financial Officer. Reporting directly to Canoo Chairman and CEO, Tony Aquila, Manget will be responsible for Capital Markets, Investor Relations, Accounting & Financial Reporting. Ramesh Murthy, who served as interim CFO, will continue in his role as Senior Vice President, Finance and Chief Accounting Officer. "We are pleased to appoint Ken to Canoo's executive management team. We have worked together for many years, starting at Ontario
Most electric vehicle stocks advanced in the week that ended on July 5, led by market leader Tesla, Inc. (NASDAQ:TSLA), with the broader market strength also contributing to the upside. Tesla shares are now in the green after the company reported better-than-feared deliveries. Here are the key events that happened in the EV space during the week: Tesla Knocks Off Lowered Number: After prolonged weakness, Tesla shares turned the corner, thanks to a second-quarter deliveries report that came in better than expectations. Analysts attributed the positive number to the lavish financing options facilitated by the company. Skeptics weren’t impressed as they pointed to the sharply lowered esti
Canoo (NASDAQ:GOEV) shares are trending on Wednesday. Over the past week, Canoo announced a definitive purchase agreement with Go2 Delivery, received multiple design awards, and joined the Russell 3000 index. What Happened: Mostly recently, Canoo signed the purchase agreement with Go2 Delivery. Under the agreement, Go2 Delivery agreed to buy five fully electric commercial delivery vans. Go2 Delivery plans to integrate these vehicles into their delivery fleet in order to decrease environmental impact and increase operational efficiency. The logistics solutions company could purchase up to 85 additional vans. Separately, on July 1, Canoo joined the Russel 3000 index, the small-cap Rus
The company selected Canoo's LDVs to accelerate its commitment to becoming the leading carbon-free logistics company to meet the last mile and other delivery transportation needs of its customers in Virginia and the Chesapeake Bay area.
Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it has officially joined the broad-market Russell 3000® Index, the small-cap Russell 2000® Index and the Russell Microcap® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets today.
The electric-vehicle space saw a major deal this week, which, along with the broader market strength, imparted some buoyancy. However, stocks closed the week on a mixed note. Here are the key events that happened in the EV space during the week: Can Tesla Clear Lowered Bar? Tesla, Inc. (NASDAQ:TSLA) investors will be on pins and needles, as the company prepares to release its second-quarter deliveries, most likely on Tuesday. Future Fund’s Gary Black said he sees a decent chance of upside surprise given the muted expectations. He noted that the consensus calls for a 6% year-over-year decline in deliveries to 440,000 units, while whisper numbers are around 420,000 units. The fund ma
Canoo Inc. (NASDAQ:GOEV) shares are trading higher Wednesday. Here’s what you need to know. What’s Going On: Early this week a report came out that the company recently bolstered its production capabilities with the acquisition of advanced manufacturing assets at its Oklahoma City facility. Obtained from Arrival Automotive UK Ltd., these assets include state-of-the-art robots and comprehensive production infrastructure aimed at ramping up cabin line production volumes starting in 2025. This strategic move is expected to streamline Canoo’s production processes, leading to reduced lead times, enhanced scalability and lower operational costs per unit. Canoo’s Oklahoma City facility
Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it has received the first of two tranches of new or like-new advanced manufacturing assets, formerly owned by Arrival Automotive UK Limited, at its Foreign Trade Zone (FTZ) designated facility in Oklahoma City, OK. The received assets will bolster in-house processes and enable higher cabin line production volumes in 2025. Canoo received 44 containers with 226 lots of advanced manufacturing assets including state-of-the-art robots along with a suite of comprehensive production infrastructure. These assets will streamline Canoo's production processes, leading to reduced lead times, enhanced production sca
Tesla, Inc. (NASDAQ:TSLA) shares rebounded this week despite analysts beginning to take down estimates ahead of second-quarter deliveries and earnings, while Henrik Fisker, the co-founder of Fisker, failed as an entrepreneur for a second time as the Ocean SUV manufacturer officially went out of business. Here are the key events that happened in the EV space during the week: Musk Teases Master Plan 4: Earlier this week, Tesla CEO Elon Musk said on X that the company may soon release Master Plan 4, amplifying expectations by describing it as “epic.”The announcement sent social media into a frenzy, while analysts began speculating about what might be included in the plan. Morgan Stanle
-SEC Filing
Electric vehicle stocks mostly retreated in the week that ended on June 14 despite the broader market closing just shy of the record high. Tesla, Inc. (NASDAQ:TSLA) was in the spotlight this week amid its annual shareholder meeting on Thursday. The week also saw British EV startup Arrival (OTC:ARVLF) confirming its bankruptcy filing. Here are the key events that happened in the EV space during the week: Tesla Dodges Bullet: After months of lobbying by Tesla’s board, C-suite, and CEO Elon Musk, shareholders adopted the resolution to reapprove the billionaire’s 2018 compensation plan. The move lifted a burden that had been weighing down the stock. With the issue now in the rearview mir
JUSTIN, Texas, July 03, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that Go2 Delivery, a sustainable logistics solutions provider, has signed a definitive agreement to purchase five fully-electric commercial delivery vans with the potential to purchase up to an additional 85 vans. Go2 Delivery will integrate Canoo's popular Class 1 Lifestyle Delivery Vehicle 130 (LDV130) into their delivery fleet to enhance their operational efficiency, provide eco-friendly deliveries for their customers, and significantly lower their environmental impact. The company selected Canoo's LDVs to accelerate its commitment to becoming the leading ca
JUSTIN, Texas, July 01, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it has officially joined the broad-market Russell 3000® Index, the small-cap Russell 2000® Index and the Russell Microcap® Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets today. The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-
Canoo's Lifestyle Delivery Vehicle 190 (LDV 190) won the Best of the Best in the Commercial Vehicles CategoryCanoo's LDV 190 is also nominated for the Red Dot: Luminary, the highest recognition accorded at the Red Dot Award: Design ConceptCanoo's American Bulldog electric pickup truck is recognized as a 2024 Red Dot winnerCanoo's first commercial customer of the LDV 190 is the United States Postal Service (USPS) JUSTIN, Texas, June 27, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that the company has been honored by receiving several Red Dot Design Awards, including the coveted "Best of the Best" award, which is aw
JUSTIN, Texas, June 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it has received the first of two tranches of new or like-new advanced manufacturing assets, formerly owned by Arrival Automotive UK Limited, at its Foreign Trade Zone (FTZ) designated facility in Oklahoma City, OK. The received assets will bolster in-house processes and enable higher cabin line production volumes in 2025. Canoo received 44 containers with 226 lots of advanced manufacturing assets including state-of-the-art robots along with a suite of comprehensive production infrastructure. These assets will streamline Canoo's production processes, lead
JUSTIN, Texas, June 03, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that company leadership will participate in the following investor conferences in June: Stifel Cross Sector Insight Conference Boston, MassachusettsJune 4 -5, 2024 CFO Greg Ethridge will participate in a fireside chat on June 4 at 4:10 p.m. ET. Sidoti Small Cap ConferenceVirtualJune 12-13, 2024 CFO Greg Ethridge and Vice President of Capital Markets and Investor Relations Jonathan Wolff will host a 30-minute presentation and subsequent Q&A on June 12 at 3:15 p.m. In addition to the live presentations, management will host one-on-one investor m
Quarterly Adjusted EBITDA was $(48.3) million, an improvement of 28.0% (or $18.8 million) versus Q1 2023 and an improvement of 11.5% (or $6.3 million) versus Q4 2023Adjusted Net Loss Per Share was $(1.13) per share, a 34.6% Improvement from $(1.73) per share in Q4 2023Increased Purchases of Long Lead Time New and Like New Equipment at Large Discounts by Six Times in Q1 2024 versus Q4 2023; Reduces Future Capital Expenditures by Approximately $50 million in 2024Active Discussions on Additional Purchases of Deeply Discounted EquipmentDeliveries to US Postal Service of Right-Hand Drive LDV 190s; On the Road Delivering MailEnters $30 Billion TAM Saudi Arabia Market with Commercial Vehicle SalesD
Justin, TX, May 03, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the quarter ended March 31, 2024 after market close on Tuesday, May 14, 2024. The Company will host a conference call and live webcast at 5:00 pm ET to discuss the results, followed by a question-and-answer period. Those interested are invited to listen to the live webcast online here. A replay of the webcast will be available shortly afterwards here. Date: Tuesday, May 14, 2024Time: 5:00 pm ETU.S. Dial-in: 877-407-9169International Dial-in: 201-493-6755Access ID: 13746555 An audio replay of the call will be availa
Justin, TX and Riyadh, Saudi Arabia, April 08, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, announced its innovative electric vehicles will be used in a pilot program by Red Sea Global (RSG), the developer behind the regenerative tourism destinations The Red Sea and AMAALA. Red Sea Global will pilot Canoo's Lifestyle Vehicle (LV), Lifestyle Delivery Vehicle (LDV) 190, and the Bulldog pickup truck. The Canoo vehicles will be piloted for travel between Red Sea Global's international airport, its various resorts, facilities, and excursions. This trial will help tailor Canoo's zero-emission vehicles to RSG's use cases and mobility needs. Canoo's
Justin, TX, April 05, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a leading high-tech advanced mobility company, today announced that on Monday April 8th and Tuesday, April 9th, the Company's management team will be presenting and hosting 1:1 investor meetings at the LD Micro Invitational XIV in New York City. The formal presentation will be webcast on Tue, Apr 9 at 3:00-3:25 PM ET. Please visit the IR Calendar page on the Canoo website to access live webcasts and any available replays. About Canoo Canoo Inc.'s (NASDAQ:GOEV) mission is to bring EVs to Everyone. The company has developed breakthrough electric vehicles that are reinventing the automotive landscape with their
MIAMI, April 03, 2024 (GLOBE NEWSWIRE) -- EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 69th Emerging Growth Conference on April 3 & 4, 2024. The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth. Register for the Conference here. Submit Questions for any of the presenting companies to: [email protected] For updates, follow us on Twitter Day 2April 4, 2024 10:30Virtual Lobby opens.Register for the Conference. If you already registered, go back to