Canoo (GOEV)

Financial Performance

Canoo's financial performance is concerning. The company reported a revenue of $605K last quarter, which remained unchanged from the previous quarter. Their gross profit was -$4.6M, showing a significant drop by -35.8% from the previous quarter and an alarming decline by -1099% year over year. Their operating income also showed a loss at -$43.2M but it improved by 31.1% from the previous quarter and increased by 11.4% year over year which might indicate some cost efficiencies being implemented.

The EBITDA ratio of -65.83, PE ratio of -0.07 and EPS of -6.10 all indicate poor profitability and earnings potential.

Stock Price

The stock price has seen a significant downtrend with the current trading price at $0.4, down by -57.9% in the last month and down by -93.3% year over year compared to its 200-day moving average at $2.15 indicating bearish sentiment in the market for this stock.

The RSI value is currently at 15.12 suggesting that the stock is strongly oversold which could potentially indicate a reversal or further downside depending on other factors.

Alternative Data Signals

In terms of alternative data signals, Canoo's web traffic has decreased significantly with estimated visitors per month down by -16.7%, reflecting reduced interest in their products or services.

The job openings have slightly decreased as well indicating possible cost cutting measures or lack of expansion plans.The business outlook among employees is very negative with only an estimated 16% reporting positive sentiments about their future prospects within the company.

On the other hand, Canoo's social media following has shown mixed results with a growth in Twitter and Facebook followers but a slight decline on Instagram.

Conclusion

In conclusion, based on the financial performance, stock price trends and alternative data signals, the analysis for Canoo's stock is bearish. While there are some positive signs such as increased social media following and improved operating income, these are overshadowed by poor financial performance overall and negative sentiment among employees.

Note: This AI Stock Analysis is based on data as of November 06. Our members can refresh and get access to an up-to-date AI stock analysis.

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Based on a combination of financial analysis, technical indicators, and insights from alternative data, we predict that the stock price of Canoo (GOEV), currently trading at $1.35, will... Sign up to access price prediction.

Disclaimer:
This prediction is provided for informational purposes only and does not constitute financial advice. Market conditions are subject to change, and past performance is not indicative of future results. Please conduct your own research or consult a professional before making investment decisions.