GreenPower Motor Company Inc. (NASDAQ:GP) Sees Large Growth in Short Interest

by · The Markets Daily

GreenPower Motor Company Inc. (NASDAQ:GP – Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 117,800 shares, an increase of 30.9% from the September 30th total of 90,000 shares. Based on an average daily volume of 145,100 shares, the short-interest ratio is currently 0.8 days. Currently, 0.6% of the shares of the stock are sold short.

GreenPower Motor Stock Down 16.2 %

Shares of NASDAQ:GP opened at $1.01 on Wednesday. The firm has a 50 day simple moving average of $1.20 and a 200 day simple moving average of $1.22. GreenPower Motor has a 52 week low of $0.70 and a 52 week high of $3.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.13 and a current ratio of 1.61. The company has a market cap of $26.75 million, a PE ratio of -1.20 and a beta of 3.15.

GreenPower Motor (NASDAQ:GP – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.02. The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.00 million. GreenPower Motor had a negative return on equity of 128.08% and a negative net margin of 84.74%. As a group, research analysts expect that GreenPower Motor will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On GreenPower Motor

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC lifted its stake in GreenPower Motor Company Inc. (NASDAQ:GP – Free Report) by 49.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,000 shares of the company’s stock after purchasing an additional 59,589 shares during the quarter. Axxcess Wealth Management LLC owned 0.72% of GreenPower Motor worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 1.69% of the company’s stock.

Wall Street Analysts Forecast Growth

GP has been the subject of several research reports. R. F. Lafferty initiated coverage on GreenPower Motor in a research note on Wednesday, September 11th. They set a “buy” rating and a $3.00 price objective for the company. Roth Mkm decreased their price target on GreenPower Motor from $3.00 to $1.65 and set a “buy” rating for the company in a research report on Friday, August 16th.

View Our Latest Stock Analysis on GP

GreenPower Motor Company Profile

(Get Free Report)

GreenPower Motor Company Inc designs, manufactures, and distributes electric vehicles for commercial markets in the United States and Canada. The company offers commercial vehicles for delivery, public transit, schools, vanpools, micro-transit, shuttles, and other; and passenger, student, low floor transit, and cargo transportation.

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