Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Large Growth in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 88,719 shares, an increase of 85.7% from the May 14th total of 47,765 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 196,226 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Greenland Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Greenland Technologies Stock Up 3.5%

Shares of NASDAQ GTEC traded up $0.02 during midday trading on Monday, reaching $0.65. 33,726 shares of the stock were exchanged, compared to its average volume of 312,779. The firm has a market cap of $13.39 million, a price-to-earnings ratio of 2.61 and a beta of 0.11. The firm has a 50-day simple moving average of $0.65 and a two-hundred day simple moving average of $0.81. Greenland Technologies has a twelve month low of $0.47 and a twelve month high of $2.26.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.23 earnings per share for the quarter. Greenland Technologies had a return on equity of 8.54% and a net margin of 6.27%.The firm had revenue of $25.54 million during the quarter. Research analysts expect that Greenland Technologies will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Greenland Technologies

A number of large investors have recently added to or reduced their stakes in GTEC. Citadel Advisors LLC purchased a new stake in Greenland Technologies during the 3rd quarter worth approximately $31,000. Centiva Capital LP acquired a new stake in shares of Greenland Technologies in the third quarter worth approximately $29,000. Mariner LLC increased its position in shares of Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after purchasing an additional 20,000 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Greenland Technologies during the third quarter worth approximately $34,000. 10.89% of the stock is currently owned by institutional investors and hedge funds.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a China-based designer and manufacturer of clean energy solutions specializing in biomass resource utilization. The company develops and produces pellet fuel production lines, biomass boilers, pellet stoves and turnkey systems for sustainable heat and power generation. Its product portfolio also includes industrial‐scale pelletizers, dryers, combustion equipment and control systems optimized for agricultural and forestry residues.

Beyond equipment supply, Greenland Technologies provides engineering, procurement and construction (EPC) services, along with installation, commissioning and maintenance support for biomass energy facilities.