GreenPower Motor Company Inc. (NASDAQ:GP) Short Interest Up 657.2% in September

GreenPower Motor Company Inc. (NASDAQ:GP) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 288,500 shares, an increase of 657.2% from the August 31st total of 38,100 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 130,300 shares, the days-to-cover ratio is currently 2.2 days.

GreenPower Motor Trading Down 2.0 %

Shares of NASDAQ:GP traded down $0.03 during trading on Friday, reaching $1.43. 60,774 shares of the company traded hands, compared to its average volume of 87,454. 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 has a 52-week low of $0.70 and a 52-week high of $3.47. The business’s fifty day moving average is $1.06 and its 200-day moving average is $1.34. The firm has a market capitalization of $37.88 million, a price-to-earnings ratio of -1.97 and a beta of 3.11.

GreenPower Motor (NASDAQ:GP) last released its quarterly earnings data 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 firm had revenue of $3.00 million for the quarter, compared to analysts’ expectations 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, analysts forecast that GreenPower Motor will post -0.8 EPS for the current year.

Hedge Funds Weigh In On 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% during the 1st quarter, according to the company in its most recent Form 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 period. Axxcess Wealth Management LLC owned 0.72% of GreenPower Motor worth $355,000 at the end of the most recent reporting period. Institutional investors own 1.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GP shares. R. F. Lafferty started coverage on GreenPower Motor in a research report on Wednesday, September 11th. They set a “buy” rating and a $3.00 price objective on the stock. Roth Mkm lowered their price objective on shares of GreenPower Motor from $3.00 to $1.65 and set a “buy” rating for the company in a report on Friday, August 16th.

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.