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

GreenPower Motor Company Inc. (NASDAQ:GP) was the target 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. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 65,300 shares, the short-interest ratio is currently 0.6 days.

GreenPower Motor Stock Down 13.2 %

Shares of GP stock traded down $0.21 during mid-day trading on Monday, hitting $1.42. 902,981 shares of the stock traded hands, compared to its average volume of 77,635. The stock’s fifty day moving average is $1.03 and its two-hundred day moving average is $1.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.61 and a quick ratio of 0.13. GreenPower Motor has a 52-week low of $0.70 and a 52-week high of $3.54. The stock has a market cap of $37.48 million, a P/E ratio of -1.91 and a beta of 3.11.

GreenPower Motor (NASDAQ:GP) last announced its earnings results on Wednesday, August 14th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.02. GreenPower Motor had a negative net margin of 84.74% and a negative return on equity of 128.08%. The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.00 million. Equities analysts predict that GreenPower Motor will post -0.8 EPS for the current year.

Institutional Trading of GreenPower Motor

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC lifted its position in shares of GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing. 1.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GP. Roth Mkm lowered their price target on shares of GreenPower Motor from $3.00 to $1.65 and set a “buy” rating for the company in a research report on Friday, August 16th. R. F. Lafferty initiated coverage on GreenPower Motor in a report on Wednesday, September 11th. They set a “buy” rating and a $3.00 target price for the company.

About GreenPower Motor

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.