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 in 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. Based on an average trading volume of 65,300 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the company are short sold.

GreenPower Motor Trading Down 13.2 %

GP stock traded down $0.21 during midday trading on Monday, reaching $1.42. 902,981 shares of the company traded hands, compared to its average volume of 77,635. The firm has a market capitalization of $37.48 million, a price-to-earnings ratio of -1.91 and a beta of 3.11. GreenPower Motor has a 52-week low of $0.70 and a 52-week high of $3.54. The business has a 50 day moving average of $1.03 and a 200-day moving average of $1.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.13 and a current ratio of 1.61.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC boosted its position in shares of GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% during the 1st quarter, according to its most recent 13F filing with the Securities & 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 about 0.72% of GreenPower Motor worth $355,000 as of its most recent filing with the Securities & Exchange Commission. 1.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.