GreenPower Motor Company Inc. (NASDAQ: GP) was the target of a significant drop in short interest rates in December. As of December 15, there was short interest totaling 364,500 shares, a decrease of 29.4% from the total of 516,100 shares as of November 30. Based on an average daily volume of 137,600 shares, the short-term interest rate is currently 2.6 days. About 2.3% of the company’s shares are sold short.
A number of equity analysts have published reports on the stock. The Maxim Group cut its target price on GreenPower Motor shares from $ 30.00 to $ 22.00 in a report released Wednesday. Zacks Investment Research downgraded GreenPower Motor shares from a âbuyâ rating to a âsellâ rating in a report released on Monday, October 18. BTIG Research reissued a “buy” note and issued a target price of $ 27.00 (up from $ 35 previously) on GreenPower Motor shares in a report released on Friday, November 12. Roth Capital downgraded GreenPower Motor shares from a ‘buy’ rating to a ‘neutral’ rating and cut its target price for the share from $ 32.00 to $ 13.00 in a report released on Monday November 15. Finally, B. Riley lowered his price target on the GreenPower Motor stock from $ 27.00 to $ 24.00 and set a âbuyâ rating on the stock in a report released on Monday, October 25. One research analyst rated the stock with a sell rating, another assigned a conservation rating, and three assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $ 20.00.
NASDAQ: GP shares opened at $ 7.82 on Friday. GreenPower Motor has a 12-month low of $ 7.64 and a 12-month high of $ 33.83. The 50-day moving average stock price is $ 12.16, and its 200-day moving average price is $ 14.39.
GreenPower Motor (NASDAQ: GP) last released its quarterly results on Friday, November 12. The company reported ($ 0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate of ($ 0.07) from ($ 0.05). The company posted revenue of $ 4.44 million in the quarter, compared to analysts’ estimate of $ 3.33 million. GreenPower Motor recorded a negative return on equity of 26.97% and a negative net margin of 71.31%. As a group, analysts expect GreenPower Motor to post earnings per share of -0.28 for the current fiscal year.
A number of institutional investors have recently bought and sold shares in the company. F3Logic LLC purchased a new position in GreenPower Motor during the third quarter for a value of approximately $ 156,000. Inspire Advisors LLC acquired a new position in GreenPower Motor during the third quarter for a value of approximately $ 164,000. Millennium Management LLC acquired a new position in GreenPower Motor during the third quarter for a value of approximately $ 229,000. Morgan Stanley strengthened its position in GreenPower Motor by 29.7% in the 3rd quarter. Morgan Stanley now owns 17,178 shares of the company valued at $ 256,000 after purchasing an additional 3,931 shares in the last quarter. Finally, Citigroup Inc. increased its position in GreenPower Motor by 642.9% during the 2nd quarter. Citigroup Inc. now owns 26,003 shares of the company valued at $ 513,000 after purchasing an additional 22,503 shares during the last quarter. Hedge funds and other institutional investors hold 21.49% of the company’s shares.
About the GreenPower engine
GreenPower Motor Co, Inc is engaged in the design, manufacture and distribution of electric vehicles for the commercial markets. It offers school buses, vans, charter buses and electric double-decker buses. 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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