Short Interest in GreenPower Motor Company Inc. (NASDAQ:GP) Drops By 30.0%

GreenPower Motor Company Inc. (NASDAQ:GP) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 64,044 shares, a decrease of 30.0% from the March 15th total of 91,519 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average trading volume of 14,724 shares, the short-interest ratio is currently 4.3 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on GP. BTIG Research reiterated a “neutral” rating on shares of GreenPower Motor in a research report on Friday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GreenPower Motor in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, GreenPower Motor currently has an average rating of “Reduce”.

GreenPower Motor Stock Down 2.1%

NASDAQ:GP opened at $0.95 on Tuesday. GreenPower Motor has a 12-month low of $0.74 and a 12-month high of $6.42. The firm has a market capitalization of $4.78 million, a P/E ratio of -0.37 and a beta of 1.81. The stock’s fifty day simple moving average is $1.07 and its 200-day simple moving average is $1.44.

GreenPower Motor (NASDAQ:GP) last posted its quarterly earnings results on Thursday, February 12th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.40) by $2.72. The company had revenue of $8.50 million during the quarter, compared to the consensus estimate of $8.99 million. As a group, equities research analysts expect that GreenPower Motor will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GreenPower Motor stock. DRW Securities LLC purchased a new position in GreenPower Motor Company Inc. (NASDAQ:GP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 55,189 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned about 1.79% of GreenPower Motor as of its most recent SEC filing. Hedge funds and other institutional investors own 1.69% of the company’s stock.

GreenPower Motor Company Profile

GreenPower Motor Company Inc (NASDAQ: GP) is a designer, manufacturer and distributor of zero-emission electric vehicles, with a focus on heavy-duty transit buses, school buses, shuttles and medium-duty trucks. The company develops its vehicles on proprietary electric platforms, integrating battery and drivetrain technology to deliver fully battery-powered solutions for public transit agencies, school districts and commercial fleet operators.

GreenPower’s product lineup includes full-sized electric transit buses available in various lengths and configurations, purpose-built electric school buses designed to meet safety standards and reduce operating costs, and medium-duty electric delivery vehicles tailored for last-mile logistics.