Roth Capital Cuts GreenPower Motor (NASDAQ:GP) Price Target to $32.00

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.

GreenPower Motor (NASDAQ:GP) last announced its quarterly earnings results on Thursday, August 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.05). The business had revenue of $2.66 million for the quarter, compared to analyst estimates of $4.62 million. GreenPower Motor had a negative net margin of 70.65% and a negative return on equity of 23.63%. As a group, sell-side analysts expect that GreenPower Motor will post 0.21 earnings per share for the current fiscal year.

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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