GreenPower Motor Company Inc. (NASDAQ:GP) Short Interest Up 30.9% in October

GreenPower Motor Company Inc. (NASDAQ:GP) was the target of a large increase in short interest in the month of 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. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 145,100 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of GreenPower Motor

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC increased its position in GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,000 shares of the company’s stock after purchasing 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. Hedge funds and other institutional investors own 1.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GP. R. F. Lafferty started coverage on shares of GreenPower Motor in a research note on Wednesday, September 11th. They set a “buy” rating and a $3.00 price objective for the company. Roth Mkm dropped their price target on GreenPower Motor from $3.00 to $1.65 and set a “buy” rating for the company in a research note on Friday, August 16th.

GreenPower Motor Price Performance

GreenPower Motor stock opened at $1.01 on Wednesday. GreenPower Motor has a 52-week low of $0.70 and a 52-week high of $3.46. The firm has a market capitalization of $26.75 million, a P/E ratio of -1.20 and a beta of 3.15. The company has a quick ratio of 0.13, a current ratio of 1.61 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average of $1.20 and a 200-day moving average of $1.22.

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