GreenPower Motor (NASDAQ:GP) Trading Down 5.2% – Here’s Why

GreenPower Motor Company Inc. (NASDAQ:GP)’s share price fell 5.2% during mid-day trading on Wednesday . The stock traded as low as $0.74 and last traded at $0.75. 199,572 shares changed hands during mid-day trading, an increase of 61% from the average session volume of 124,011 shares. The stock had previously closed at $0.80.

Analysts Set New Price Targets

Separately, R. F. Lafferty initiated coverage on shares of GreenPower Motor in a research note on Wednesday, September 11th. They issued a “buy” rating and a $3.00 price target on the stock.

GreenPower Motor Price Performance

The stock has a market cap of $22.12 million, a P/E ratio of -0.88 and a beta of 3.15. The company has a current ratio of 1.44, a quick ratio of 0.06 and a debt-to-equity ratio of 1.52. The company’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.06.

Institutional Investors Weigh In On GreenPower Motor

An institutional investor recently bought a new position in GreenPower Motor stock. Virtu Financial LLC acquired a new position in shares of GreenPower Motor Company Inc. (NASDAQ:GP) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,092 shares of the company’s stock, valued at approximately $34,000. Virtu Financial LLC owned 0.09% of GreenPower Motor as of its most recent SEC filing. Institutional investors and hedge funds own 1.69% of the company’s stock.

About GreenPower Motor

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.