GreenPower Motor (NASDAQ:GP) had its target price cut by investment analysts at Roth Capital from $41.00 to $32.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Roth Capital’s price objective suggests a potential upside of 130.71% from the stock’s previous close.
A number of other research analysts have also recently weighed in on the stock. B. Riley reduced their price target on shares of GreenPower Motor from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, August 16th. Zacks Investment Research upgraded shares of GreenPower Motor from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $30.60.
GP opened at $13.87 on Thursday. The company’s 50 day simple moving average is $13.94 and its 200 day simple moving average is $16.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.85 and a current ratio of 13.08. GreenPower Motor has a 1 year low of $8.22 and a 1 year high of $34.45. The stock has a market capitalization of $306.53 million, a PE ratio of -31.52 and a beta of 7.37.
Several large investors have recently modified their holdings of the stock. Invesco Ltd. increased its stake in shares of GreenPower Motor by 11.8% in the second quarter. Invesco Ltd. now owns 2,068,308 shares of the company’s stock worth $40,601,000 after buying an additional 217,597 shares during the last quarter. State Street Corp acquired a new position in shares of GreenPower Motor during the second quarter valued at $4,878,000. JPMorgan Chase & Co. boosted its holdings in shares of GreenPower Motor by 61.4% during the second quarter. JPMorgan Chase & Co. now owns 245,258 shares of the company’s stock valued at $773,000 after acquiring an additional 93,329 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of GreenPower Motor during the second quarter valued at $1,187,000. Finally, Toroso Investments LLC boosted its holdings in shares of GreenPower Motor by 374.8% during the second quarter. Toroso Investments LLC now owns 54,598 shares of the company’s stock valued at $1,072,000 after acquiring an additional 43,099 shares during the period. Institutional investors and hedge funds own 22.13% of the company’s stock.
GreenPower Motor Company Profile
GreenPower Motor Co, Inc engages in the design, manufacture, and distribution of electric powered vehicles for commercial markets. It offers electric-powered school buses, vans, charter buses, and double-deckers. The company was founded by Fraser Atkinson and Phillip W. Oldridge on March 30, 2010 and is headquartered in Vancouver, Canada.
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