Short Interest in GreenPower Motor Company Inc. (NASDAQ:GP) Expands By 65.1%

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 194,500 shares, a growth of 65.1% from the October 15th total of 117,800 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 261,400 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

GP has been the subject of several recent research reports. R. F. Lafferty began coverage on shares of GreenPower Motor in a research note on Wednesday, September 11th. They issued a “buy” rating and a $3.00 price objective for the company. Roth Mkm decreased their price target on shares of GreenPower Motor from $3.00 to $1.65 and set a “buy” rating for the company in a research report on Friday, August 16th.

GreenPower Motor Trading Down 2.7 %

Shares of GP opened at $0.90 on Wednesday. GreenPower Motor has a 1 year low of $0.70 and a 1 year high of $3.42. The company has a current ratio of 1.61, a quick ratio of 0.13 and a debt-to-equity ratio of 0.74. The stock has a 50-day simple moving average of $1.20 and a 200-day simple moving average of $1.17.

GreenPower Motor (NASDAQ:GP) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.21) earnings per share (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 company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.00 million. As a group, equities analysts forecast that GreenPower Motor will post -0.8 earnings per share for the current year.

Institutional Investors Weigh In On GreenPower Motor

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC grew its stake in shares of GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% during the first quarter, according to the company in its most recent disclosure with the Securities and 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 approximately 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.

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.