Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Significant Drop in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 83,069 shares, a decline of 68.9% from the August 15th total of 267,361 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average trading volume of 319,074 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Greenland Technologies from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Greenland Technologies Stock Performance

NASDAQ:GTEC traded down $0.02 during trading hours on Friday, hitting $1.05. 241,128 shares of the company’s stock traded hands, compared to its average volume of 279,624. The stock’s fifty day moving average price is $0.71 and its two-hundred day moving average price is $0.68. The firm has a market cap of $21.56 million, a P/E ratio of 1.81 and a beta of 0.23. Greenland Technologies has a twelve month low of $0.47 and a twelve month high of $1.61.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Greenland Technologies had a return on equity of 17.02% and a net margin of 12.32%.The firm had revenue of $29.88 million during the quarter, compared to analyst estimates of $22.80 million. On average, equities research analysts predict that Greenland Technologies will post 0.59 earnings per share for the current year.

Institutional Trading of Greenland Technologies

Several institutional investors have recently made changes to their positions in GTEC. Centiva Capital LP purchased a new position in Greenland Technologies during the third quarter valued at approximately $29,000. Citadel Advisors LLC acquired a new position in Greenland Technologies in the 3rd quarter valued at approximately $31,000. Finally, Mariner LLC increased its stake in Greenland Technologies by 97.1% in the 4th quarter. Mariner LLC now owns 40,596 shares of the company’s stock valued at $25,000 after buying an additional 20,000 shares during the period. 10.89% of the stock is currently owned by institutional investors and hedge funds.

About Greenland Technologies

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.