Canoo Inc Stock Chance of Future Stock Price Finishing Under 0.76
| GOEV Stock | USD 0.08 0 4.79% |
Canoo |
Canoo Target Price Odds to finish below 0.76
The tendency of Canoo Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
| Current Price | Horizon | Target Price | Odds to stay under $ 0.76 after 90 days |
| 0.08 | 90 days | 0.76 | about 64.55 |
Based on a normal probability distribution, the odds of Canoo to stay under $ 0.76 after 90 days from now is about 64.55 (This Canoo Inc probability density function shows the probability of Canoo Stock to fall within a particular range of prices over 90 days) . Probability of Canoo Inc price to stay between its current price of $ 0.08 and $ 0.76 at the end of the 90-day period is about 60.56 .
Given the investment horizon of 90 days Canoo has a beta of 0.87. This usually indicates Canoo Inc market returns are correlated to returns on the market. As the market goes up or down, Canoo is expected to follow. Additionally Canoo Inc has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the Dow Jones Industrial. Canoo Price Density |
| Price |
Predictive Modules for Canoo
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Canoo Inc. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canoo's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Canoo Risk Indicators
For the most part, the last 10-20 years have been a very volatile time for the stock market. Canoo is not an exception. The market had few large corrections towards the Canoo's value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold Canoo Inc, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of Canoo within the framework of very fundamental risk indicators.α | Alpha over Dow Jones | -3 | |
β | Beta against Dow Jones | 0.87 | |
σ | Overall volatility | 0.32 | |
Ir | Information ratio | -0.24 |
Canoo Alerts and Suggestions
In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of Canoo for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for Canoo Inc can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.| Canoo Inc generated a negative expected return over the last 90 days | |
| Canoo Inc has high historical volatility and very poor performance | |
| Canoo Inc has some characteristics of a very speculative penny stock | |
| Canoo Inc has a very high chance of going through financial distress in the upcoming years | |
| Canoo Inc currently holds 89.99 M in liabilities with Debt to Equity (D/E) ratio of 0.14, which may suggest the company is not taking enough advantage from borrowing. Canoo Inc has a current ratio of 0.38, indicating that it has a negative working capital and may not be able to pay financial obligations when due. Note, when we think about Canoo's use of debt, we should always consider it together with its cash and equity. | |
| The entity reported the previous year's revenue of 886 K. Net Loss for the year was (302.02 M) with profit before overhead, payroll, taxes, and interest of 1.88 M. | |
| Canoo Inc currently holds about 36.48 M in cash with (251.13 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.13, which can makes it an attractive takeover target, given it will continue generating positive cash flow. | |
| Canoo Inc has a poor financial position based on the latest SEC disclosures | |
| Latest headline from finance.yahoo.com: Why Is Penny Stock Canoo Falling On Thursday |
Canoo Price Density Drivers
Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of Canoo Stock often depends not only on the future outlook of the current and potential Canoo's investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Canoo's indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 25.1 M | |
| Cash And Short Term Investments | 10.3 M |
Canoo Technical Analysis
Canoo's future price can be derived by breaking down and analyzing its technical indicators over time. Canoo Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Canoo Inc. In general, you should focus on analyzing Canoo Stock price patterns and their correlations with different microeconomic environments and drivers.
Canoo Predictive Forecast Models
Canoo's time-series forecasting models is one of many Canoo's stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary Canoo's historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.
Things to note about Canoo Inc
Checking the ongoing alerts about Canoo for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for Canoo Inc help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
| Canoo Inc generated a negative expected return over the last 90 days | |
| Canoo Inc has high historical volatility and very poor performance | |
| Canoo Inc has some characteristics of a very speculative penny stock | |
| Canoo Inc has a very high chance of going through financial distress in the upcoming years | |
| Canoo Inc currently holds 89.99 M in liabilities with Debt to Equity (D/E) ratio of 0.14, which may suggest the company is not taking enough advantage from borrowing. Canoo Inc has a current ratio of 0.38, indicating that it has a negative working capital and may not be able to pay financial obligations when due. Note, when we think about Canoo's use of debt, we should always consider it together with its cash and equity. | |
| The entity reported the previous year's revenue of 886 K. Net Loss for the year was (302.02 M) with profit before overhead, payroll, taxes, and interest of 1.88 M. | |
| Canoo Inc currently holds about 36.48 M in cash with (251.13 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.13, which can makes it an attractive takeover target, given it will continue generating positive cash flow. | |
| Canoo Inc has a poor financial position based on the latest SEC disclosures | |
| Latest headline from finance.yahoo.com: Why Is Penny Stock Canoo Falling On Thursday |
Additional Tools for Canoo Stock Analysis
When running Canoo's price analysis, check to measure Canoo's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canoo is operating at the current time. Most of Canoo's value examination focuses on studying past and present price action to predict the probability of Canoo's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canoo's price. Additionally, you may evaluate how the addition of Canoo to your portfolios can decrease your overall portfolio volatility.