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Canoo Inc. (GOEV) Dips More Than Broader Markets: What You Should Know
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Canoo Inc. (GOEV - Free Report) closed the most recent trading day at $3.42, moving -1.16% from the previous trading session. This change lagged the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the company had gained 84.04% in the past month. In that same time, the Auto-Tires-Trucks sector gained 15.86%, while the S&P 500 gained 8.35%.
Wall Street will be looking for positivity from Canoo Inc. as it approaches its next earnings report date. This is expected to be August 8, 2022. On that day, Canoo Inc. is projected to report earnings of -$0.53 per share, which would represent a year-over-year decline of 6%.
Investors might also notice recent changes to analyst estimates for Canoo Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.28% lower. Canoo Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canoo Inc. (GOEV) Dips More Than Broader Markets: What You Should Know
Canoo Inc. (GOEV - Free Report) closed the most recent trading day at $3.42, moving -1.16% from the previous trading session. This change lagged the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the company had gained 84.04% in the past month. In that same time, the Auto-Tires-Trucks sector gained 15.86%, while the S&P 500 gained 8.35%.
Wall Street will be looking for positivity from Canoo Inc. as it approaches its next earnings report date. This is expected to be August 8, 2022. On that day, Canoo Inc. is projected to report earnings of -$0.53 per share, which would represent a year-over-year decline of 6%.
Investors might also notice recent changes to analyst estimates for Canoo Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.28% lower. Canoo Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.