GreenPower Motor Company Inc. [NASDAQ: GP] gained 19.40% or 3.55 points to close at $21.85 with a heavy trading volume of 1518049 shares. The company report on March 23, 2021 that GreenPower Receives Purchase Order for Four Wirelessly Charged Buy America Compliant EV Stars From Grant Transit Authority in the State of Washington.
Grant Transit Authority Secures FTA Low-No Funding to Support Purchase.
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GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (“GreenPower”), a leading manufacturer and distributor of zero-emission, electric-powered medium and heavy-duty vehicles, announced that it has received an order for four wirelessly charged, FTA Buy America compliant EV Stars from Grant Transit in the state of Washington.
It opened the trading session at $18.10, the shares rose to $22.69 and dropped to $18.10, the range by which the price of stock traded the whole day. The daily chart for GP points out that the company has recorded 101.01% gains over the past six months. However, it is still -2564.63% lower than its most recent low trading price.
If we look at the average trading volume of 647.41K shares, GP reached to a volume of 1518049 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about GreenPower Motor Company Inc. [GP]:
Maxim Group have made an estimate for GreenPower Motor Company Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 02, 2020. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on September 29, 2020, representing the official price target for GreenPower Motor Company Inc. stock.
The Average True Range (ATR) for GreenPower Motor Company Inc. is set at 2.55, with the Price to Sales ratio for GP stock in the period of the last 12 months amounting to 55.81.
Trading performance analysis for GP stock
GreenPower Motor Company Inc. [GP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.57. With this latest performance, GP shares dropped by -13.02% in over the last four-week period, additionally plugging by 101.01% over the last 6 months – not to mention a rise of 2301.10% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GP stock in for the last two-week period is set at 43.45, with the RSI for the last a single of trading hit 44.11, and the three-weeks RSI is set at 44.19 for GreenPower Motor Company Inc. [GP]. The present Moving Average for the last 50 days of trading for this stock 26.83, while it was recorded at 20.00 for the last single week of trading.
GreenPower Motor Company Inc. [GP]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and GreenPower Motor Company Inc. [GP] shares currently have an operating margin of -79.82 and a Gross Margin at -7.78. GreenPower Motor Company Inc.’s Net Margin is presently recorded at -55.32.
Return on Total Capital for GP is now -67.84, given the latest momentum, and Return on Invested Capital for the company is -100.81. Additionally, GP Total Debt to Total Capital is recorded at 110.62, with Total Debt to Total Assets ending up at 92.67.
Receivables Turnover for the company is 7.01 with a Total Asset Turnover recorded at a value of 0.71.
An analysis of insider ownership at GreenPower Motor Company Inc. [GP]
There are presently around $80 million, or 9.98% of GP stock, in the hands of institutional investors. The top three institutional holders of GP stocks are: INVESCO LTD. with ownership of 2,040,570, which is approximately New of the company’s market cap and around 22.20% of the total institutional ownership; FMR LLC, holding 998,200 shares of the stock with an approximate value of $21.81 million in GP stocks shares; and AROSA CAPITAL MANAGEMENT LP, currently with $3.06 million in GP stock with ownership of nearly 55.556% of the company’s market capitalization.
Positions in GreenPower Motor Company Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 29 institutional holders increased their position in GreenPower Motor Company Inc. [NASDAQ:GP] by around 3,528,584 shares. Additionally, 10 investors decreased positions by around 1,585,705 shares, while 1 investors held positions by with 1,455,696 shares. The mentioned changes placed institutional holdings at 3,658,593 shares, according to the latest SEC report filing. GP stock had 24 new institutional investments in for a total of 3,471,757 shares, while 7 institutional investors sold positions of 1,487,567 shares during the same period.