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

GreenPower Motor Company Inc. (NASDAQ:GP) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 173,039 shares, a growth of 151.9% from the June 30th total of 68,704 shares. Based on an average trading volume of 269,614 shares, the short-interest ratio is currently 0.6 days. Currently, 4.8% of the shares of the company are short sold.

Hedge Funds Weigh In On GreenPower Motor

A hedge fund recently bought a new position in GreenPower Motor stock. DRW Securities LLC acquired a new stake in GreenPower Motor Company Inc. (NASDAQ:GP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 55,189 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned 1.79% of GreenPower Motor as of its most recent filing with the Securities and Exchange Commission. 1.69% of the stock is owned by hedge funds and other institutional investors.

GreenPower Motor Price Performance

Shares of NASDAQ:GP traded down $0.01 on Wednesday, reaching $1.48. The company’s stock had a trading volume of 144,252 shares, compared to its average volume of 921,757. GreenPower Motor has a 52-week low of $0.74 and a 52-week high of $6.42. The stock has a market capitalization of $7.44 million, a P/E ratio of -0.89 and a beta of 1.69. The stock’s 50-day moving average is $1.33 and its two-hundred day moving average is $1.15.

GreenPower Motor (NASDAQ:GP) last issued its quarterly earnings results on Wednesday, July 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $1.09. The company had revenue of $3.85 million during the quarter, compared to analyst estimates of $9.61 million.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GP shares. BTIG Research reiterated a “neutral” rating on shares of GreenPower Motor in a research report on Friday, April 10th. Wall Street Zen raised GreenPower Motor to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of GreenPower Motor in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, GreenPower Motor presently has an average rating of “Reduce”.

About GreenPower Motor

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.