GreenPower Motor (NASDAQ:GP) Price Target Cut to $7.00

GreenPower Motor (NASDAQ:GP) had its price objective lowered by analysts at Roth Mkm from $13.00 to $7.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price points to a potential upside of 140.55% from the stock’s current price.

Several other analysts have also recently commented on the stock. BTIG Research restated a “neutral” rating on shares of GreenPower Motor in a report on Wednesday. B. Riley boosted their price target on shares of GreenPower Motor from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Finally, Maxim Group cut their price objective on GreenPower Motor from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, October 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.33.

GreenPower Motor Price Performance

Shares of NASDAQ:GP traded down $0.03 during trading hours on Thursday, hitting $2.91. 6,582 shares of the company’s stock traded hands, compared to its average volume of 282,654. The company’s fifty day simple moving average is $3.17 and its two-hundred day simple moving average is $3.23. The company has a market cap of $72.60 million, a price-to-earnings ratio of -5.03 and a beta of 3.80. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.57 and a current ratio of 2.41. GreenPower Motor has a 52 week low of $1.67 and a 52 week high of $6.05.

GreenPower Motor (NASDAQ:GP) last announced its earnings results on Monday, November 13th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The company had revenue of $8.44 million for the quarter, compared to analyst estimates of $19.37 million. GreenPower Motor had a negative return on equity of 52.83% and a negative net margin of 26.43%. As a group, equities analysts anticipate that GreenPower Motor will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On GreenPower Motor

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of GreenPower Motor by 112.2% during the 1st quarter. Royal Bank of Canada now owns 8,272 shares of the company’s stock worth $56,000 after purchasing an additional 4,373 shares in the last quarter. UBS Group AG boosted its stake in GreenPower Motor by 293.5% during the second quarter. UBS Group AG now owns 10,220 shares of the company’s stock worth $33,000 after buying an additional 7,623 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in GreenPower Motor during the third quarter worth $27,000. Jane Street Group LLC bought a new stake in GreenPower Motor in the 2nd quarter valued at $46,000. Finally, JPMorgan Chase & Co. raised its stake in shares of GreenPower Motor by 84.4% in the 2nd 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 in the last quarter. 1.32% of the stock is currently owned by institutional investors and hedge funds.

GreenPower Motor Company Profile

GreenPower Motor Company Inc designs, manufactures, and distributes electric vehicles for commercial markets in the United States and Canada. The company offers commercial vehicles for delivery, public transit, schools, vanpools, micro-transit, shuttles, and other; and passenger, student, low floor transit, and cargo transportation.