Wall Street analysts predict that GreenPower Motor Company Inc. (NASDAQ:GP – Get Rating) will report $8.34 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for GreenPower Motor’s earnings, with the highest sales estimate coming in at $10.67 million and the lowest estimate coming in at $6.00 million. GreenPower Motor posted sales of $4.38 million during the same quarter last year, which suggests a positive year over year growth rate of 90.4%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that GreenPower Motor will report full year sales of $20.75 million for the current financial year, with estimates ranging from $18.40 million to $23.09 million. For the next year, analysts expect that the company will post sales of $67.36 million, with estimates ranging from $40.00 million to $94.72 million. Zacks’ sales calculations are an average based on a survey of research firms that cover GreenPower Motor.
GP has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and issued a $21.00 target price on shares of GreenPower Motor in a research note on Friday, February 11th. Roth Capital raised shares of GreenPower Motor from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, February 15th. Zacks Investment Research raised shares of GreenPower Motor from a “sell” rating to a “hold” rating in a report on Monday, April 4th. Finally, Maxim Group lowered their price target on shares of GreenPower Motor from $22.00 to $14.00 in a report on Thursday, February 10th.
A number of hedge funds have recently modified their holdings of GP. Millennium Management LLC increased its holdings in shares of GreenPower Motor by 2,163.4% in the fourth quarter. Millennium Management LLC now owns 348,865 shares of the company’s stock worth $3,307,000 after purchasing an additional 333,452 shares during the period. Renaissance Technologies LLC increased its holdings in shares of GreenPower Motor by 307.8% in the first quarter. Renaissance Technologies LLC now owns 135,398 shares of the company’s stock worth $927,000 after purchasing an additional 102,198 shares during the period. Invesco Ltd. increased its holdings in shares of GreenPower Motor by 3.8% in the third quarter. Invesco Ltd. now owns 2,146,078 shares of the company’s stock worth $31,934,000 after purchasing an additional 77,770 shares during the period. Marshall Wace LLP bought a new position in shares of GreenPower Motor in the fourth quarter worth $708,000. Finally, UBS Group AG increased its holdings in shares of GreenPower Motor by 3,278.2% in the third quarter. UBS Group AG now owns 76,517 shares of the company’s stock worth $1,139,000 after purchasing an additional 74,252 shares during the period. 23.28% of the stock is currently owned by institutional investors and hedge funds.
About GreenPower Motor (Get Rating)
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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