Short Interest in GreenPower Motor Company Inc. (NASDAQ:GP) Increases By 151.9%

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 173,039 shares, a growth of 151.9% from the June 30th total of 68,704 shares. Based on an average daily volume of 269,614 shares, the days-to-cover ratio is currently 0.6 days. Approximately 4.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GreenPower Motor in a research note on Friday, July 17th. Wall Street Zen raised shares of GreenPower Motor to a “hold” rating in a research note on Saturday, July 18th. Finally, BTIG Research restated a “neutral” rating on shares of GreenPower Motor in a report on Friday, April 10th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, GreenPower Motor currently has an average rating of “Reduce”.

GreenPower Motor Stock Performance

Shares of GP stock opened at $1.48 on Tuesday. The firm has a market cap of $7.44 million, a P/E ratio of -0.89 and a beta of 1.69. The firm’s 50 day moving average price is $1.32 and its 200-day moving average price is $1.14. GreenPower Motor has a one year low of $0.74 and a one year high of $6.42.

GreenPower Motor (NASDAQ:GP) last posted its earnings results on Wednesday, July 8th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $1.09. The company had revenue of $3.85 million during the quarter, compared to analyst estimates of $9.61 million.

Institutional Investors Weigh In On GreenPower Motor

An institutional investor recently bought a new stake in GreenPower Motor stock. DRW Securities LLC bought a new position in shares of GreenPower Motor Company Inc. (NASDAQ:GP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 55,189 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned approximately 1.79% of GreenPower Motor at the end of the most recent quarter. Institutional investors and hedge funds own 1.69% of the company’s stock.

About GreenPower Motor

GreenPower Motor Company Inc (NASDAQ: GP) is a designer, manufacturer and distributor of zero-emission electric vehicles, with a focus on heavy-duty transit buses, school buses, shuttles and medium-duty trucks. The company develops its vehicles on proprietary electric platforms, integrating battery and drivetrain technology to deliver fully battery-powered solutions for public transit agencies, school districts and commercial fleet operators.

GreenPower’s product lineup includes full-sized electric transit buses available in various lengths and configurations, purpose-built electric school buses designed to meet safety standards and reduce operating costs, and medium-duty electric delivery vehicles tailored for last-mile logistics.