GreenPower Motor Company Inc. (NASDAQ:GP – Get Rating) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 210,500 shares, a decline of 8.0% from the August 15th total of 228,700 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 177,000 shares, the days-to-cover ratio is presently 1.2 days.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of GreenPower Motor by 112.2% during the first quarter. Royal Bank of Canada now owns 8,272 shares of the company's stock valued at $56,000 after buying an additional 4,373 shares during the last quarter. JPMorgan Chase & Co. boosted its position in GreenPower Motor by 84.4% in the second quarter. JPMorgan Chase & Co. now owns 14,243 shares of the company's stock valued at $45,000 after buying an additional 6,518 shares during the last quarter. UBS Group AG increased its holdings in GreenPower Motor by 293.5% in the 2nd quarter. UBS Group AG now owns 10,220 shares of the company's stock worth $33,000 after buying an additional 7,623 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in GreenPower Motor by 21.2% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 51,158 shares of the company's stock valued at $350,000 after acquiring an additional 8,934 shares during the period. Finally, Advisor Group Holdings Inc. boosted its holdings in GreenPower Motor by 397.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 12,079 shares of the company's stock valued at $115,000 after purchasing an additional 9,650 shares during the last quarter. Institutional investors own 5.43% of the company's stock.
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Analysts Set New Price Targets
Several research analysts have weighed in on the company. B. Riley dropped their price target on GreenPower Motor from $15.00 to $7.00 in a research note on Monday, July 11th. Maxim Group cut their target price on shares of GreenPower Motor from $9.00 to $7.00 in a research note on Tuesday.
GreenPower Motor Stock Performance
Shares of GreenPower Motor stock traded down $0.07 on Wednesday, hitting $2.69. 3,696 shares of the company traded hands, compared to its average volume of 104,454. The stock's 50 day moving average price is $3.26 and its 200-day moving average price is $4.56. GreenPower Motor has a 52 week low of $2.69 and a 52 week high of $16.45.
GreenPower Motor (NASDAQ:GP – Get Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). GreenPower Motor had a negative return on equity of 49.50% and a negative net margin of 95.40%. The business had revenue of $3.85 million for the quarter, compared to the consensus estimate of $6.27 million. As a group, equities analysts forecast that GreenPower Motor will post -0.53 earnings per share for the current year.
About GreenPower Motor
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GreenPower Motor Company Inc designs, manufactures, and distributes electric vehicles for commercial markets in the United States and Canada. The company offers a suite of high-floor and low-floor electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans, double decker buses, and a cab and chassis.
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