GreenPower Motor Company Inc. (NASDAQ:GP) Short Interest Up 657.2% in September

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 288,500 shares, a growth of 657.2% from the August 31st total of 38,100 shares. Based on an average daily trading volume, of 130,300 shares, the short-interest ratio is currently 2.2 days. Currently, 1.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GP shares. Roth Mkm decreased their price target on GreenPower Motor from $3.00 to $1.65 and set a “buy” rating on the stock in a research note on Friday, August 16th. R. F. Lafferty initiated coverage on GreenPower Motor in a research report on Wednesday, September 11th. They issued a “buy” rating and a $3.00 target price on the stock.

GreenPower Motor Trading Down 2.0 %

NASDAQ:GP traded down $0.03 on Friday, reaching $1.43. 60,774 shares of the stock traded hands, compared to its average volume of 87,454. GreenPower Motor has a 1-year low of $0.70 and a 1-year high of $3.47. The company’s 50 day moving average is $1.06 and its 200-day moving average is $1.34. The firm has a market capitalization of $37.88 million, a price-to-earnings ratio of -1.97 and a beta of 3.11. The company has a current ratio of 1.61, a quick ratio of 0.13 and a debt-to-equity ratio of 0.74.

GreenPower Motor (NASDAQ:GP) last issued its 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 during the quarter, compared to the consensus estimate of $5.00 million. GreenPower Motor had a negative return on equity of 128.08% and a negative net margin of 84.74%. Equities research analysts anticipate that GreenPower Motor will post -0.8 EPS for the current fiscal year.

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.