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

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

Institutional Investors Weigh In On GreenPower Motor

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC increased its stake in GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 1.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

GreenPower Motor Stock Down 16.2 %

Shares of NASDAQ GP opened at $1.01 on Wednesday. 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 stock has a market cap of $26.75 million, a PE ratio of -1.20 and a beta of 3.15. The business has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.22. GreenPower Motor has a 52-week low of $0.70 and a 52-week high of $3.46.

GreenPower Motor (NASDAQ:GP) last announced its earnings results on Wednesday, August 14th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.02. The business had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.00 million. GreenPower Motor had a negative net margin of 84.74% and a negative return on equity of 128.08%. Equities research analysts forecast that GreenPower Motor will post -0.8 earnings per share for the current year.

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.