GreenPower Motor (NASDAQ:GP) Price Target Cut to $7.00 by Analysts at Maxim Group

GreenPower Motor (NASDAQ:GPGet Rating) had its price target lowered by Maxim Group from $9.00 to $7.00 in a research report report published on Tuesday, The Fly reports.

Separately, B. Riley dropped their price objective on shares of GreenPower Motor from $15.00 to $7.00 in a report on Monday, July 11th.

GreenPower Motor Stock Performance

Shares of NASDAQ:GP opened at $2.76 on Tuesday. The stock has a market capitalization of $63.90 million, a price-to-earnings ratio of -3.63 and a beta of 3.39. GreenPower Motor has a 1-year low of $2.69 and a 1-year high of $16.45. The company’s fifty day moving average is $3.26 and its two-hundred day moving average is $4.56.

GreenPower Motor (NASDAQ:GPGet Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The business had revenue of $3.85 million for the quarter, compared to analyst estimates of $6.27 million. GreenPower Motor had a negative return on equity of 49.50% and a negative net margin of 95.40%. Sell-side analysts expect that GreenPower Motor will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On GreenPower Motor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. grew its position in GreenPower Motor by 397.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 12,079 shares of the company’s stock valued at $115,000 after buying an additional 9,650 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of GreenPower Motor by 307.8% during the 1st quarter. Renaissance Technologies LLC now owns 135,398 shares of the company’s stock valued at $927,000 after purchasing an additional 102,198 shares in the last quarter. Royal Bank of Canada boosted its position in shares of GreenPower Motor by 112.2% during the 1st quarter. Royal Bank of Canada now owns 8,272 shares of the company’s stock valued at $56,000 after purchasing an additional 4,373 shares in the last quarter. Jane Street Group LLC bought a new position in shares of GreenPower Motor during the 2nd quarter valued at about $46,000. Finally, JPMorgan Chase & Co. boosted its position in shares of GreenPower Motor by 84.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,243 shares of the company’s stock valued at $45,000 after purchasing an additional 6,518 shares in the last quarter. Institutional investors own 5.43% of the company’s stock.

GreenPower Motor Company Profile

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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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