Greenland Energy Co (NASDAQ:GLND) Short Interest Up 89.0% in June

Greenland Energy Co (NASDAQ:GLND) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 1,940,724 shares, a growth of 89.0% from the June 15th total of 1,026,681 shares. Based on an average trading volume of 1,326,267 shares, the days-to-cover ratio is presently 1.5 days. Currently, 4.4% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, Director Larry G. Swets, Jr. purchased 15,000 shares of Greenland Energy stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average cost of $2.56 per share, with a total value of $38,400.00. Following the completion of the transaction, the director directly owned 585,000 shares in the company, valued at approximately $1,497,600. The trade was a 2.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 70,000 shares of company stock valued at $189,050 over the last three months.

Greenland Energy Stock Performance

GLND stock opened at $2.30 on Friday. The firm has a fifty day simple moving average of $2.65. Greenland Energy has a 12 month low of $2.03 and a 12 month high of $23.00. The stock has a market cap of $100.58 million and a P/E ratio of -57.50.

Greenland Energy (NASDAQ:GLND) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GLND. ThinkEquity initiated coverage on Greenland Energy in a report on Monday, June 15th. They issued a “buy” rating for the company. Wall Street Zen upgraded Greenland Energy to a “sell” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Greenland Energy currently has a consensus rating of “Buy”.

About Greenland Energy

Greenland Energy Company operates as an early-stage oil and gas exploration company. It focuses on the Jameson Land Basin in East Greenland. The company is based in Denver, Colorado.