GreenPower Motor Company Inc. (NASDAQ:GP) Short Interest Up 5.8% in October

GreenPower Motor Company Inc. (NASDAQ:GP) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 341,000 shares, a growth of 5.8% from the October 15th total of 322,300 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 58,300 shares, the short-interest ratio is presently 5.8 days.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GP. Maxim Group reduced their price target on shares of GreenPower Motor from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. B. Riley lifted their target price on shares of GreenPower Motor from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. BTIG Research reiterated a “neutral” rating on shares of GreenPower Motor in a research note on Wednesday. Finally, Roth Mkm dropped their price target on GreenPower Motor from $13.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.33.

GreenPower Motor Stock Performance

GP traded up $0.05 during trading on Friday, hitting $2.89. The company’s stock had a trading volume of 45,473 shares, compared to its average volume of 281,874. GreenPower Motor has a one year low of $1.67 and a one year high of $6.05. The business’s 50 day simple moving average is $3.16 and its 200-day simple moving average is $3.23. The company has a quick ratio of 0.57, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The firm has a market cap of $72.11 million, a PE ratio of -4.90 and a beta of 3.80.

GreenPower Motor (NASDAQ:GP) last announced its earnings results on Monday, November 13th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). GreenPower Motor had a negative return on equity of 55.24% and a negative net margin of 26.43%. The company had revenue of $8.44 million during the quarter, compared to the consensus estimate of $19.37 million. As a group, sell-side analysts predict that GreenPower Motor will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On GreenPower Motor

Several large investors have recently added to or reduced their stakes in GP. B. Riley Wealth Advisors Inc. bought a new position in shares of GreenPower Motor during the 3rd quarter valued at about $27,000. UBS Group AG raised its position in GreenPower Motor by 293.5% in the 2nd quarter. UBS Group AG now owns 10,220 shares of the company’s stock worth $33,000 after purchasing an additional 7,623 shares during the period. JPMorgan Chase & Co. lifted its stake in GreenPower Motor by 84.4% in the second quarter. JPMorgan Chase & Co. now owns 14,243 shares of the company’s stock worth $45,000 after purchasing an additional 6,518 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of GreenPower Motor during the second quarter valued at approximately $46,000. Finally, Royal Bank of Canada grew its stake in shares of GreenPower Motor by 112.2% during the first quarter. Royal Bank of Canada now owns 8,272 shares of the company’s stock valued at $56,000 after buying an additional 4,373 shares during the last quarter. Hedge funds and other institutional investors own 1.32% of the company’s stock.

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.