Short Interest in GreenPower Motor Company Inc. (NASDAQ:GP) Drops By 16.7%

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 91,519 shares, a decrease of 16.7% from the February 26th total of 109,866 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 16,587 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Investors Weigh In On GreenPower Motor

A hedge fund recently bought a new stake in GreenPower Motor stock. DRW Securities LLC acquired a new position in GreenPower Motor Company Inc. (NASDAQ:GP) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 55,189 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned 1.79% of GreenPower Motor at the end of the most recent reporting period. Institutional investors own 1.69% of the company’s stock.

GreenPower Motor Price Performance

GP stock traded up $0.02 on Tuesday, hitting $1.04. 30,653 shares of the company were exchanged, compared to its average volume of 1,547,948. The stock has a market capitalization of $5.23 million, a price-to-earnings ratio of -0.41 and a beta of 1.83. GreenPower Motor has a twelve month low of $0.74 and a twelve month high of $6.42. The business’s fifty day moving average is $1.07 and its two-hundred day moving average is $1.62.

GreenPower Motor (NASDAQ:GP) last announced its quarterly earnings data on Thursday, February 12th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.40) by $2.72. The company had revenue of $8.50 million for the quarter, compared to analysts’ expectations of $8.99 million. Equities research analysts expect that GreenPower Motor will post -0.71 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of GreenPower Motor in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.