GreenPower Motor Company Inc. (NASDAQ:GP) Sees Significant Decrease in Short Interest

GreenPower Motor Company Inc. (NASDAQ:GP) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 52,419 shares, a drop of 64.0% from the May 14th total of 145,787 shares. Based on an average trading volume of 149,424 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On GreenPower Motor

A hedge fund recently bought a new stake in GreenPower Motor stock. DRW Securities LLC purchased a new position in shares of GreenPower Motor Company Inc. (NASDAQ:GP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 55,189 shares of the company’s stock, valued at approximately $43,000. DRW Securities LLC owned approximately 1.79% of GreenPower Motor at the end of the most recent reporting period. 1.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on GP. BTIG Research reaffirmed a “neutral” rating on shares of GreenPower Motor in a research note on Friday, April 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GreenPower Motor in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

GreenPower Motor Price Performance

Shares of NASDAQ GP opened at $1.20 on Friday. The company has a market cap of $6.04 million, a PE ratio of -0.47 and a beta of 1.82. GreenPower Motor has a 12 month low of $0.74 and a 12 month high of $6.42. The company has a 50-day simple moving average of $1.05 and a 200-day simple moving average of $1.02.

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.