On March 6, 2023 at 10:31:25 ET an unusually large $26.40K block of Call contracts in Canoo Inc. (GOEV) was bought, with a strike price of $1.50 / share, expiring in 683 days (on January 17, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 1.01 sigmas above the mean, placing it in the 89.39 percentile of all recent large trades made in GOEV options.
This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.
Analyst Price Forecast Suggests 621.31% Upside
As of March 5, 2023, the average one-year price target for Canoo Inc. is $5.36. The forecasts range from a low of $1.01 to a high of $10.50. The average price target represents an increase of 621.31% from its latest reported closing price of $0.74.
The projected annual revenue for Canoo Inc. is $312MM, an increase of ?%. The projected annual non-GAAP EPS is -$1.47.
What is the Fund Sentiment?
There are 303 funds or institutions reporting positions in Canoo Inc.. This is an increase of 32 owner(s) or 11.81% in the last quarter. Average portfolio weight of all funds dedicated to GOEV is 0.04%, an increase of 50.28%. Total shares owned by institutions increased in the last three months by 20.77% to 64,257K shares. The put/call ratio of GOEV is 0.23, indicating a bullish outlook.
What are large shareholders doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,177K shares representing 1.86% ownership of the company. In it’s prior filing, the firm reported owning 5,896K shares, representing an increase of 27.89%. The firm decreased its portfolio allocation in GOEV by 15.98% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 6,380K shares representing 1.45% ownership of the company. In it’s prior filing, the firm reported owning 4,861K shares, representing an increase of 23.81%. The firm decreased its portfolio allocation in GOEV by 20.29% over the last quarter.
PBW – Invesco WilderHill Clean Energy ETF holds 5,899K shares representing 1.34% ownership of the company. In it’s prior filing, the firm reported owning 6,037K shares, representing a decrease of 2.34%. The firm decreased its portfolio allocation in GOEV by 50.67% over the last quarter.
Geode Capital Management holds 3,994K shares representing 0.91% ownership of the company. In it’s prior filing, the firm reported owning 2,733K shares, representing an increase of 31.56%. The firm decreased its portfolio allocation in GOEV by 11.33% over the last quarter.
IWM – iShares Russell 2000 ETF holds 3,794K shares representing 0.86% ownership of the company. In it’s prior filing, the firm reported owning 3,079K shares, representing an increase of 18.84%. The firm decreased its portfolio allocation in GOEV by 26.80% over the last quarter.
Canoo Background Information
(This description is provided by the company.)
Canoo is a Los Angeles-based company that has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that defies traditional ownership to put customers first. Distinguished by its experienced team – totaling over 350 employees from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space and adaptable to support a wide range of vehicle applications for consumers and businesses.
This article originally appeared on Fintel
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