GreenPower Motor Company Inc. (NASDAQ:GP) Sees Significant Decline in Short Interest

GreenPower Motor Company Inc. (NASDAQ:GPGet Rating) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 206,400 shares, a drop of 20.0% from the March 15th total of 258,100 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily volume of 191,800 shares, the short-interest ratio is currently 1.1 days.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of GreenPower Motor by 3.8% in the 3rd quarter. Invesco Ltd. now owns 2,146,078 shares of the company’s stock valued at $31,934,000 after buying an additional 77,770 shares in the last quarter. Millennium Management LLC increased its stake in shares of GreenPower Motor by 2,163.4% in the 4th quarter. Millennium Management LLC now owns 348,865 shares of the company’s stock valued at $3,307,000 after purchasing an additional 333,452 shares during the last quarter. First Trust Advisors LP lifted its position in shares of GreenPower Motor by 14.1% during the 4th quarter. First Trust Advisors LP now owns 189,899 shares of the company’s stock worth $1,800,000 after buying an additional 23,497 shares during the last quarter. UBS Group AG boosted its stake in GreenPower Motor by 3,278.2% in the third quarter. UBS Group AG now owns 76,517 shares of the company’s stock valued at $1,139,000 after buying an additional 74,252 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of GreenPower Motor in the 4th quarter valued at approximately $708,000. 19.88% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. BTIG Research reiterated a “buy” rating and set a $21.00 price target on shares of GreenPower Motor in a report on Friday, February 11th. Maxim Group reduced their target price on GreenPower Motor from $22.00 to $14.00 in a research note on Thursday, February 10th. Roth Capital upgraded shares of GreenPower Motor from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, February 15th. Finally, Zacks Investment Research raised shares of GreenPower Motor from a “sell” rating to a “hold” rating in a research report on Monday, April 4th.

GP stock opened at $7.21 on Tuesday. GreenPower Motor has a 52 week low of $4.91 and a 52 week high of $21.43. The firm has a market capitalization of $166.49 million, a P/E ratio of -14.71 and a beta of 5.33. The company has a 50-day simple moving average of $6.68.

GreenPower Motor (NASDAQ:GPGet Rating) last posted its quarterly earnings data on Friday, February 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.05). GreenPower Motor had a negative net margin of 63.85% and a negative return on equity of 29.54%. The business had revenue of $5.31 million during the quarter, compared to the consensus estimate of $5.78 million. On average, analysts expect that GreenPower Motor will post -0.43 EPS for the current year.

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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