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

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 54,590 shares, a decrease of 38.5% from the May 31st total of 88,719 shares. Based on an average trading volume of 104,099 shares, the short-interest ratio is currently 0.5 days. Currently, 0.4% of the shares of the stock are short sold.

Greenland Technologies Stock Down 6.3%

Shares of GTEC stock traded down $0.04 during mid-day trading on Thursday, reaching $0.56. 113,228 shares of the stock traded hands, compared to its average volume of 289,899. The company has a market cap of $11.48 million, a price-to-earnings ratio of 2.22 and a beta of 0.13. The stock’s fifty day simple moving average is $0.61 and its two-hundred day simple moving average is $0.77. Greenland Technologies has a 1-year low of $0.47 and a 1-year high of $2.09.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Greenland Technologies in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Greenland Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTEC. Centiva Capital LP bought a new position in shares of Greenland Technologies during the third quarter valued at $29,000. Citadel Advisors LLC acquired a new position in shares of Greenland Technologies during the third quarter worth $31,000. Finally, Mariner LLC grew its stake in shares of Greenland Technologies by 97.1% in 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 during the last quarter. 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.