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

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 84,500 shares, an increase of 60.3% from the June 30th total of 52,700 shares. Based on an average daily trading volume, of 74,700 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GreenPower Motor stock. Axxcess Wealth Management LLC boosted its holdings in GreenPower Motor Company Inc. (NASDAQ:GP) by 49.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,000 shares of the company’s stock after buying an additional 59,589 shares during the quarter. Axxcess Wealth Management LLC owned approximately 0.72% of GreenPower Motor worth $355,000 at the end of the most recent reporting period. 1.69% of the stock is currently owned by institutional investors and hedge funds.

GreenPower Motor Stock Up 1.8 %

Shares of GreenPower Motor stock opened at $1.11 on Friday. 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 has a 12-month low of $0.98 and a 12-month high of $4.64. The firm’s 50-day moving average price is $1.15 and its two-hundred day moving average price is $1.79.

GreenPower Motor (NASDAQ:GP) last announced its quarterly earnings data on Friday, June 28th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). The firm had revenue of $5.09 million for the quarter, compared to analyst estimates of $9.00 million. GreenPower Motor had a negative return on equity of 82.62% and a negative net margin of 46.71%. As a group, sell-side analysts predict that GreenPower Motor will post -0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $3.00 price objective on shares of GreenPower Motor in a report on Tuesday, April 23rd.

About GreenPower Motor

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.