Greenidge Generation (NASDAQ:GREE) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Greenidge Generation (NASDAQ:GREE) from a buy rating to a hold rating in a research report report published on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Greenidge Generation in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Greenidge Generation presently has a consensus rating of “Sell”.

Greenidge Generation Stock Performance

Shares of GREE opened at $1.60 on Friday. The business’s 50-day moving average is $1.38 and its two-hundred day moving average is $1.56. The company has a market capitalization of $25.28 million, a P/E ratio of 20.00 and a beta of 3.22. Greenidge Generation has a fifty-two week low of $0.58 and a fifty-two week high of $2.42.

Hedge Funds Weigh In On Greenidge Generation

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Greenidge Generation in the fourth quarter valued at approximately $37,000. XTX Topco Ltd acquired a new stake in Greenidge Generation in the 2nd quarter valued at $41,000. Jane Street Group LLC purchased a new stake in Greenidge Generation in the 4th quarter worth $65,000. Renaissance Technologies LLC increased its holdings in Greenidge Generation by 275.2% in the 4th quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock worth $114,000 after acquiring an additional 56,700 shares in the last quarter. Finally, State Street Corp raised its position in Greenidge Generation by 19.1% during the fourth quarter. State Street Corp now owns 79,050 shares of the company’s stock worth $117,000 after acquiring an additional 12,700 shares during the period. Hedge funds and other institutional investors own 8.50% of the company’s stock.

About Greenidge Generation

Greenidge Generation Holdings Inc is an energy and digital asset company that operates a natural gas–fired power plant alongside an on-site Bitcoin mining facility. The company’s primary business activities include generating electricity for the New York power grid and leveraging that generation capacity to support high-performance cryptocurrency mining. Through these complementary operations, Greenidge seeks to optimize power utilization while capitalizing on growing demand for digital assets.

The company’s core power generation assets are located in Dresden, New York, where it repurposed a former coal-fired plant under Atlas Holdings’ ownership and converted it to a combined-cycle natural gas facility.