Short Interest in GreenPower Motor Company Inc. (NASDAQ:GP) Expands By 30.9%

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a significant increase in short interest in 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 presently 0.8 days. Currently, 0.6% of the shares of the stock are sold short.

Institutional Trading of GreenPower Motor

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC increased its holdings in shares of GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% during the first quarter, according to its most recent Form 13F filing 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 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. 1.69% of the stock is owned by institutional investors.

GreenPower Motor Price Performance

NASDAQ GP opened at $1.47 on Monday. The stock has a market capitalization of $38.94 million, a P/E ratio of -1.75 and a beta of 3.15. 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 business’s fifty day moving average is $1.19 and its two-hundred day moving average is $1.23. GreenPower Motor has a 1 year low of $0.70 and a 1 year high of $3.46.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GP. R. F. Lafferty started coverage on GreenPower Motor in a report on Wednesday, September 11th. They issued a “buy” rating and a $3.00 price objective for the company. Roth Mkm reduced their price objective 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.

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.