Short Interest in GreenPower Motor Company Inc. (NASDAQ:GP) Decreases By 5.6%

GreenPower Motor Company Inc. (NASDAQ:GP) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 137,500 shares, a drop of 5.6% from the March 15th total of 145,700 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 48,400 shares, the days-to-cover ratio is presently 2.8 days.

GreenPower Motor Stock Performance

Shares of GP remained flat at $1.69 during trading hours on Wednesday. 14,053 shares of the company were exchanged, compared to its average volume of 48,581. GreenPower Motor has a one year low of $1.62 and a one year high of $6.05. The stock has a market cap of $42.23 million, a P/E ratio of -2.68 and a beta of 3.40. The stock has a 50 day moving average price of $2.09 and a two-hundred day moving average price of $2.66. The company has a current ratio of 1.86, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26.

GreenPower Motor (NASDAQ:GP) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The business had revenue of $8.16 million during the quarter, compared to analysts’ expectations of $12.00 million. GreenPower Motor had a negative return on equity of 66.07% and a negative net margin of 31.47%. During the same period in the prior year, the firm posted ($0.14) EPS. Analysts predict that GreenPower Motor will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their price target on shares of GreenPower Motor from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, April 1st.

Institutional Investors Weigh In On GreenPower Motor

Institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its holdings in GreenPower Motor by 31.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 45,123 shares of the company’s stock worth $142,000 after purchasing an additional 10,900 shares in the last quarter. Marshall Wace LLP boosted its position in shares of GreenPower Motor by 487.6% in the third quarter. Marshall Wace LLP now owns 172,993 shares of the company’s stock valued at $403,000 after acquiring an additional 143,551 shares during the period. Osaic Holdings Inc. grew its stake in GreenPower Motor by 38.0% during the second quarter. Osaic Holdings Inc. now owns 58,662 shares of the company’s stock valued at $154,000 after acquiring an additional 16,153 shares in the last quarter. Renaissance Technologies LLC increased its holdings in GreenPower Motor by 23.1% during the 1st quarter. Renaissance Technologies LLC now owns 59,080 shares of the company’s stock worth $136,000 after acquiring an additional 11,080 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in GreenPower Motor by 121.6% in the 1st quarter. Susquehanna International Group LLP now owns 32,581 shares of the company’s stock worth $75,000 after purchasing an additional 17,881 shares in the last quarter. 1.69% of the stock is owned by hedge funds and other institutional investors.

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.