Canoo Inc. (NASDAQ:GOEV) is an innovative force in the EV sector ... and an all-electric pickup truck. Investments in manufacturing infrastructure further position it for growth.

While the company is testing an electric pick-up truck called the American Bulldog, its future seems to lie with more prosaic delivery vans. Wedbush analyst Dan Ives remains bullish on GOEV stock.

The company announced it filed or Chapter 7 bankruptcy. Canoo Inc GOEV shares fell some 72% to 37 cents during Tuesday’s session after the company announced it filed for Chapter 7 bankruptcy.

Let's take a look at what these Wall Street heavyweights have to say about Canoo Inc. (GOEV) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Stifel Nicolaus analyst Stephen Gengaro downgraded Canoo (GOEV – Research Report) to a Hold yesterday and set a price target of $0.50. The company’s shares closed yesterday at $1.37.