GreenPower Motor Company Inc. (NASDAQ:GP) Short Interest Up 31.4% in August

GreenPower Motor Company Inc. (NASDAQ:GP) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 38,100 shares, an increase of 31.4% from the August 15th total of 29,000 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 65,300 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Roth Mkm cut their price objective 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. R. F. Lafferty started coverage on shares of GreenPower Motor in a research report on Wednesday, September 11th. They issued a “buy” rating and a $3.00 price target for the company.

GreenPower Motor Trading Down 13.2 %

Shares of NASDAQ GP traded down $0.21 during trading hours on Monday, hitting $1.42. 902,981 shares of the company traded hands, compared to its average volume of 77,635. The company’s 50 day moving average price is $1.03 and its 200 day moving average price is $1.37. GreenPower Motor has a 12 month low of $0.70 and a 12 month high of $3.54. The stock has a market capitalization of $37.48 million, a price-to-earnings ratio of -1.91 and a beta of 3.11. The company has a current ratio of 1.61, a quick ratio of 0.13 and a debt-to-equity ratio of 0.74.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in GreenPower Motor stock. Axxcess Wealth Management LLC lifted its position in shares of GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% during the first quarter, according to its most recent 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 approximately 0.72% of GreenPower Motor worth $355,000 at the end of the most recent quarter. 1.69% of the stock is currently owned by institutional investors and hedge funds.

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.