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

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 38,100 shares, a growth of 31.4% from the August 15th total of 29,000 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 65,300 shares, the short-interest ratio is presently 0.6 days.

GreenPower Motor Stock Down 13.2 %

Shares of GreenPower Motor stock traded down $0.21 during trading on Monday, reaching $1.42. The company’s stock had a trading volume of 902,981 shares, compared to its average volume of 77,635. GreenPower Motor has a 1-year low of $0.70 and a 1-year high of $3.54. The company has a 50-day simple moving average of $1.03 and a two-hundred day simple moving average of $1.37. The company has a quick ratio of 0.13, a current ratio of 1.61 and a debt-to-equity ratio of 0.74. The company has a market cap of $37.48 million, a price-to-earnings ratio of -1.91 and a beta of 3.11.

GreenPower Motor (NASDAQ:GP) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. The business had revenue of $3.00 million for 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, equities analysts forecast that GreenPower Motor will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GreenPower Motor stock. Axxcess Wealth Management LLC lifted its position in GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 180,000 shares of the company’s stock after acquiring an additional 59,589 shares during the period. 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). 1.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. R. F. Lafferty assumed coverage on GreenPower Motor in a report on Wednesday, September 11th. They issued a “buy” rating and a $3.00 price target on the stock. Roth Mkm reduced their target price on shares of GreenPower Motor from $3.00 to $1.65 and set a “buy” rating for the company in a report on Friday, August 16th.

GreenPower Motor Company Profile

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.