Short Interest in Greenland Energy Co (NASDAQ:GLND) Declines By 42.9%

Greenland Energy Co (NASDAQ:GLND) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 1,714,976 shares, a drop of 42.9% from the August 15th total of 3,003,460 shares. Based on an average daily volume of 777,208 shares, the short-interest ratio is presently 2.2 days. Currently, 3.9% of the company’s shares are short sold.

Insider Buying and Selling

In other news, Director Larry G. Swets, Jr. bought 15,000 shares of Greenland Energy stock in a transaction on Thursday, June 25th. The shares were bought at an average cost of $2.56 per share, with a total value of $38,400.00. Following the completion of the purchase, the director directly owned 585,000 shares of the company’s stock, valued at approximately $1,497,600. This trade represents a 2.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Greenland Energy

A number of institutional investors and hedge funds have recently modified their holdings of GLND. Resolute Advisors LLC purchased a new position in shares of Greenland Energy in the 2nd quarter valued at about $163,000. PEAK6 LLC acquired a new position in Greenland Energy in the second quarter valued at $143,000. Squarepoint Ops LLC acquired a new position in Greenland Energy in the 2nd quarter valued at about $41,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of Greenland Energy during the second quarter worth approximately $33,000.

Greenland Energy Stock Down 0.4%

Shares of GLND stock traded down $0.01 during trading hours on Thursday, hitting $1.20. The company had a trading volume of 172,170 shares, compared to its average volume of 1,494,404. The firm has a market capitalization of $52.26 million, a PE ratio of -7.03 and a beta of -2.64. The business’s fifty day moving average is $1.73. Greenland Energy has a fifty-two week low of $1.09 and a fifty-two week high of $23.00.

Greenland Energy (NASDAQ:GLND) last announced its earnings results on Thursday, August 13th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Analyst Ratings Changes

A number of research firms recently commented on GLND. Wall Street Zen cut Greenland Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. ThinkEquity began coverage on Greenland Energy in a research report on Monday, June 15th. They issued a “buy” rating on the stock. Finally, Weiss Ratings raised Greenland Energy from a “sell (e)” rating to a “sell (d-)” rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Greenland Energy currently has a consensus rating of “Hold”.

Greenland Energy Company Profile

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.