GreenPower Motor Company (TSE: GPV) (NASDAQ: GP) is a manufacturer and distributor of all-electric buses. Today, GPV revealed that it delivered a record 101 fully-electric vehicles in its Fiscal Q3 (ended December 31, 2022), much higher than its 57 deliveries in Fiscal Q2. Notably, GPV delivered its first Nano BEAST Type A school bus. The company is continuing to advance and already has over 100 deliveries planned in the current quarter and expects to achieve a 2,000-vehicle order backlog. Despite the news, this EV stock is hardly up on the day.
Nonetheless, its vehicles appear promising; the type D BEAST and Type A Nano BEAST vehicles had no problem handling “winter conditions on mountainous terrains.” Additionally, GreenPower expanded its dealer network in Q3 across the U.S. and raised just under $1.1 million USD at an average price of $2.40/share in its latest quarter.
Is GreenPower Motor Stock a Buy, According to Analysts?
According to analysts, GPV stock comes in as a Strong Buy based on four unanimous Buy ratings assigned in the past three months. Interestingly, the average GreenPower Motor stock price target of C$11.10 means that analysts expect almost 300% upside potential in the next 12 months.
