GreenPower Motor Company Inc. (NASDAQ:GP) Sees Significant Decrease in Short Interest

GreenPower Motor Company Inc. (NASDAQ:GP) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 137,500 shares, a decline of 5.6% from the March 15th total of 145,700 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 48,400 shares, the short-interest ratio is presently 2.8 days.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their target price on shares of GreenPower Motor from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, April 1st.

GreenPower Motor Stock Performance

Shares of GP opened at $1.69 on Thursday. The company has a market capitalization of $42.23 million, a PE ratio of -2.68 and a beta of 3.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 1.86. The company’s 50 day moving average price is $2.07 and its 200 day moving average price is $2.66. GreenPower Motor has a 52 week low of $1.62 and a 52 week high of $6.05.

GreenPower Motor (NASDAQ:GP) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). GreenPower Motor had a negative net margin of 31.47% and a negative return on equity of 66.07%. The firm had revenue of $8.16 million for the quarter, compared to analyst estimates of $12.00 million. During the same period in the previous year, the business posted ($0.14) EPS. Research analysts expect that GreenPower Motor will post -0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On GreenPower Motor

A number of hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. acquired a new stake in shares of GreenPower Motor in the third quarter worth about $27,000. UBS Group AG grew its holdings in GreenPower Motor by 293.5% during the second quarter. UBS Group AG now owns 10,220 shares of the company’s stock valued at $33,000 after purchasing an additional 7,623 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of GreenPower Motor during the 4th quarter worth $44,000. JPMorgan Chase & Co. lifted its position in GreenPower Motor by 84.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,243 shares of the company’s stock worth $45,000 after acquiring an additional 6,518 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of GreenPower Motor during the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 1.69% of the company’s stock.

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.