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GreenPower Motor Company Inc. (GP) Surges 10.4%: Is This an Indication of Further Gains?
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GreenPower Motor Company Inc. (GP - Free Report) shares ended the last trading session 10.4% higher at $5.54. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 80.6% gain over the past four weeks.
Shares got a boost after the company reported record-setting revenues and deliveries for the fiscal fourth quarter 2023. Quarterly revenues more than tripled from the year-ago period to $15.3 million. GreenPower delivered a total of 123 vehicles during the quarter under review, predominantly consisting of EV Star Cab and Chassis, EV Star Cargoes, EV Stars, and Nano BEAST Type A school buses.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +52.6%. Revenues are expected to be $17.07 million, up 343.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GreenPower Motor Company Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GP going forward to see if this recent jump can turn into more strength down the road.
GreenPower Motor Company Inc. is a member of the Zacks Automotive - Foreign industry. One other stock in the same industry, NIO Inc. (NIO - Free Report) , finished the last trading session 1.3% lower at $10.42. NIO has returned 12.3% over the past month.
NIO Inc.'s consensus EPS estimate for the upcoming report has changed +15.1% over the past month to -$0.36. Compared to the company's year-ago EPS, this represents a change of -44%. NIO Inc. currently boasts a Zacks Rank of #3 (Hold).
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GreenPower Motor Company Inc. (GP) Surges 10.4%: Is This an Indication of Further Gains?
GreenPower Motor Company Inc. (GP - Free Report) shares ended the last trading session 10.4% higher at $5.54. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 80.6% gain over the past four weeks.
Shares got a boost after the company reported record-setting revenues and deliveries for the fiscal fourth quarter 2023. Quarterly revenues more than tripled from the year-ago period to $15.3 million. GreenPower delivered a total of 123 vehicles during the quarter under review, predominantly consisting of EV Star Cab and Chassis, EV Star Cargoes, EV Stars, and Nano BEAST Type A school buses.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +52.6%. Revenues are expected to be $17.07 million, up 343.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GreenPower Motor Company Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GreenPower Motor Company Inc. is a member of the Zacks Automotive - Foreign industry. One other stock in the same industry, NIO Inc. (NIO - Free Report) , finished the last trading session 1.3% lower at $10.42. NIO has returned 12.3% over the past month.
NIO Inc.'s consensus EPS estimate for the upcoming report has changed +15.1% over the past month to -$0.36. Compared to the company's year-ago EPS, this represents a change of -44%. NIO Inc. currently boasts a Zacks Rank of #3 (Hold).