GreenPower Motor Company Inc. (NASDAQ:GP) Expected to Announce Quarterly Sales of $8.34 Million

Wall Street brokerages forecast that GreenPower Motor Company Inc. (NASDAQ:GPGet Rating) will announce $8.34 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for GreenPower Motor’s earnings, with the highest sales estimate coming in at $10.67 million and the lowest estimate coming in at $6.00 million. GreenPower Motor reported sales of $4.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 90.4%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that GreenPower Motor will report full year sales of $20.75 million for the current year, with estimates ranging from $18.40 million to $23.09 million. For the next year, analysts expect that the firm will post sales of $67.36 million, with estimates ranging from $40.00 million to $94.72 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow GreenPower Motor.

GreenPower Motor (NASDAQ:GPGet Rating) last posted its quarterly earnings data on Friday, February 11th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The business had revenue of $5.31 million during the quarter, compared to analyst estimates of $5.78 million. GreenPower Motor had a negative return on equity of 29.54% and a negative net margin of 63.85%.

Several brokerages have recently issued reports on GP. Zacks Investment Research raised GreenPower Motor from a “sell” rating to a “hold” rating in a research note on Monday, April 4th. Roth Capital raised GreenPower Motor from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, February 15th. BTIG Research reaffirmed a “buy” rating and set a $21.00 price target on shares of GreenPower Motor in a research note on Friday, February 11th. Finally, Maxim Group cut their price target on GreenPower Motor from $22.00 to $14.00 in a research note on Thursday, February 10th.

Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of GreenPower Motor by 14.5% during the second quarter. Morgan Stanley now owns 13,247 shares of the company’s stock worth $260,000 after buying an additional 1,680 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of GreenPower Motor by 6.8% in the third quarter. Vontobel Holding Ltd. now owns 65,588 shares of the company’s stock valued at $976,000 after purchasing an additional 4,169 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in shares of GreenPower Motor by 397.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 12,079 shares of the company’s stock worth $115,000 after purchasing an additional 9,650 shares in the last quarter. F3Logic LLC acquired a new position in GreenPower Motor during the third quarter worth $156,000. Finally, Inspire Advisors LLC bought a new position in GreenPower Motor in the third quarter valued at $164,000. Institutional investors own 19.88% of the company’s stock.

GreenPower Motor stock remained flat at $$7.73 on Friday. The company’s stock had a trading volume of 80,467 shares, compared to its average volume of 194,354. GreenPower Motor has a one year low of $4.91 and a one year high of $21.43. The stock has a market cap of $178.49 million, a PE ratio of -15.69 and a beta of 5.33. The business has a fifty day moving average of $6.56.

About GreenPower Motor (Get Rating)

GreenPower Motor Company Inc designs, manufactures, and distributes electric vehicles for commercial markets in the United States and Canada. The company offers a suite of high-floor and low-floor electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans, double decker buses, and a cab and chassis.

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Earnings History and Estimates for GreenPower Motor (NASDAQ:GP)

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