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 |
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
4 - Canoo Inc. (0001750153) (Issuer)
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
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Canoo to establish first European location in Bicester Motion allowing UK customers to experience and test drive Canoo's right-hand drive commercial electric vansCanoo's expansion poised to capitalize on the strong demand in the light commercial vehicle (LCV) market JUSTIN, Texas, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced the company's official launch into the United Kingdom market by establishing Canoo Technologies UK Limited, a new legal entity in the UK, marking a significant milestone in the company's global expansion strategy. Canoo has selected Bicester Motion, an iconic automotive campus, as a key loc
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
Quarterly revenue record of $605KQuarterly Adjusted EBITDA was $(38.6) million, an improvement of 38% versus Q2 2023, and an improvement of 20% versus Q1 2024Adjusted Net Loss Per Share was $(0.61), a 46% improvement from $(1.13) per share in Q1 202433% or $20.7 million reduction in Operating Expenses versus Q1 2024Reduced total quarterly cash outflow by $39 million or 49% in Q2 2024 versus Q2 2023Relocating headquarters from California to Texas and continued migration to our Oklahoma City and Pryor, OK facilitiesSuccessfully concluded Red Sea Global pilot in extreme terrains and climatic conditionsAdvanced our customer acquisition of large commercial fleets in the US, UK and Middle-East whi
JUSTIN, Texas, July 23, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the second quarter ended June 30, 2024 after the market close on Wednesday, August 14, 2024 and host a conference call and webcast at 5 p.m. ET to discuss the results. The call will be hosted by Tony Aquila, Investor, Executive Chairman and Chief Executive Officer, Greg Ethridge, Chief Financial Officer and Ramesh Murthy, Senior Vice President, Finance and Chief Accounting Officer. Conference Call and Webcast DetailsA slide presentation and webcast link will be posted on the Canoo Investor Relations website at inves
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
MIAMI, Sept. 25, 2024 (GLOBE NEWSWIRE) -- EmergingGrowth.com, a leading independent small cap media portal, announces the schedule of the 75th Emerging Growth Conference on September 25 & 26, 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 2 - September 26, 2024 8:45Virtual Lobby opens.Register for the Conference. If you already registered, go bac
MIAMI, Sept. 24, 2024 (GLOBE NEWSWIRE) -- EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 75th Emerging Growth Conference on September 25 & 26, 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 Sponsors:QuoteMedia - Keep Investors Informed with Dynamic Plug and Play IR Solutions(844) 485-82
Canoo to establish first European location in Bicester Motion allowing UK customers to experience and test drive Canoo's right-hand drive commercial electric vansCanoo's expansion poised to capitalize on the strong demand in the light commercial vehicle (LCV) market JUSTIN, Texas, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced the company's official launch into the United Kingdom market by establishing Canoo Technologies UK Limited, a new legal entity in the UK, marking a significant milestone in the company's global expansion strategy. Canoo has selected Bicester Motion, an iconic automotive campus, as a key loc
FTZ activation insulates Canoo from import tariffs and allows for deferments and exemptions as the company expands its global presenceThe approval of Canoo's FTZ allows other vendors and partners to relocate into Canoo's user-driven site thereby broadening the benefits to Canoo and its partnersEffective immediately providing a 5% reduction in BOM costs for imported parts significantly improving margins JUSTIN, Texas, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, announced today that the U.S. Customs and Border Protection (CBP) has officially approved final activation of Canoo's Oklahoma City operations as a Foreign-Trade Zone (FTZ
NEW YORK, NY / ACCESSWIRE / September 17, 2024 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day September Small-Cap Conference taking place Wednesday and Thursday, September 18-19, 2024. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links.Presentation Schedule*All Times EDTWednesday, September 18, 2024 (Day 1)8:30-9:00MtronPTI (MPTI)The Gorman-Rupp Company (GRC)Lilium (LILM)*****9:15-9:45The LGL Group, Inc. (LGL)Natural Gas Services Group (NGS)Harvard Bioscience (HBIO)Lifetime Brands, Inc. (LCUT)10:00-10:30Daktronics (DAKT)Arcosa, Inc (
JUSTIN, Texas, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a technology equipment manufacturer specializing in electric cargo vehicles for commercial, government and fleet customers, today announced the company will migrate its engineering workforce to its two Oklahoma locations – Oklahoma City and Pryor and relocate its corporate headquarters to northern Texas. Approximately 137 engineering positions will relocate from California to Texas and Oklahoma beginning in the fourth quarter of 2024, with the majority of roles based in Oklahoma. One of the primary drivers for the move to Oklahoma is the co-location of engineering and manufacturing within the company's nearly
JUSTIN, Texas, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that company leadership will participate in the following future investor conferences. Emerging Growth ConferenceVirtualThursday, August 22, 2024Greg Ethridge, CFO, will speak at 2:20 p.m. EST HC Wainwright Global Investment Conference New York CityMonday, September 9 - Wednesday, September 11, 2024 LD Micro Main Event Los Angeles, CAMonday, October 28 – Wednesday, October 30, 2024 Benchmark Discovery ConferenceNew York CityWednesday, December 11, 2024 ROTH Deer Valley ConferenceDeer Valley, UTWednesday, December 11 – Saturday, December 14, 2024
Quarterly revenue record of $605KQuarterly Adjusted EBITDA was $(38.6) million, an improvement of 38% versus Q2 2023, and an improvement of 20% versus Q1 2024Adjusted Net Loss Per Share was $(0.61), a 46% improvement from $(1.13) per share in Q1 202433% or $20.7 million reduction in Operating Expenses versus Q1 2024Reduced total quarterly cash outflow by $39 million or 49% in Q2 2024 versus Q2 2023Relocating headquarters from California to Texas and continued migration to our Oklahoma City and Pryor, OK facilitiesSuccessfully concluded Red Sea Global pilot in extreme terrains and climatic conditionsAdvanced our customer acquisition of large commercial fleets in the US, UK and Middle-East whi
JUSTIN, Texas, July 23, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ:GOEV), a high-tech advanced mobility company, today announced that it will report its financial results for the second quarter ended June 30, 2024 after the market close on Wednesday, August 14, 2024 and host a conference call and webcast at 5 p.m. ET to discuss the results. The call will be hosted by Tony Aquila, Investor, Executive Chairman and Chief Executive Officer, Greg Ethridge, Chief Financial Officer and Ramesh Murthy, Senior Vice President, Finance and Chief Accounting Officer. Conference Call and Webcast DetailsA slide presentation and webcast link will be posted on the Canoo Investor Relations website at inves
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
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Electric vehicle stocks fell across the board, with the decline mostly due to the broader market pullback this week. Tesla, Inc. (NASDAQ:TSLA) extended its weekly declines ahead of next week’s earnings release. Here’s a run down on what happened in the EV space during the week: Tesla Raises Prices: The not-so-successful price-cutting strategy has been discontinued at least for now, with Tesla announcing $2,000 price increases for all variants of the Model S and Model X EVs in U.S. this week. The prices of these models were also hiked in Canada. The company, however, is persisting with its incentives and liberal financing options. Tesla influencer Sawyer Merritt reported that Tesla has
Automotive stocks, including Canoo Inc (NASDAQ:GOEV), Lucid Group, Inc (NASDAQ:LCID), Polestar Automotive Holding UK (NASDAQ:PSNY), VinFast Auto (NASDAQ:VFS), and Workhorse Group, Inc (NASDAQ:WKHS), are trading lower Monday following China’s slower-than-expected second-quarter economic growth. The Chinese electric vehicle stocks also traded lower on Monday. The second-largest economy grew by 4.7% from April to June, falling short of the 5.1% forecast by analysts. The consumer sector faces challenges as retail sales growth hit an 18-month low due to deflationary pressures leading to price cuts on cars, food, and clothing. Slow retail sales growth, rising unemployment, and reduced
Most electric vehicle stocks advanced along with the broader market in the week that ended on July 12, catching up with market leader Tesla, Inc.’s (NASDAQ:TSLA) gain in the previous week. The Elon Musk-led company’s shares stumbled after a 11-session winning streak. Here are the key events that happened in the EV space during the week: See Also: Best Electric Vehicle Stocks Musk Tightlipped On Robotaxi Rumors: Tesla shares were going strong and completed a 11-session winning-streak on Wednesday but reversed course on Thursday, stung by a report that said the EV maker would push back the robotaxi launch event by two months. The stock fell over 8% during the session before recovering
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
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