Traders Buy High Volume of Call Options on Greenland Energy (NASDAQ:GLND)

Greenland Energy Co (NASDAQ:GLND) saw unusually large options trading on Thursday. Traders bought 4,034 call options on the stock. This represents an increase of 278% compared to the average daily volume of 1,067 call options.

Institutional Investors Weigh In On Greenland Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLND. NewEdge Wealth LLC purchased a new stake in Greenland Energy in the second quarter valued at $33,000. Squarepoint Ops LLC acquired a new position in Greenland Energy in the second quarter valued at about $41,000. PEAK6 LLC purchased a new position in Greenland Energy during the second quarter worth about $143,000. Resolute Advisors LLC acquired a new stake in shares of Greenland Energy during the second quarter valued at about $163,000. Finally, State Street Corp acquired a new stake in shares of Greenland Energy during the second quarter valued at about $417,000.

Wall Street Analyst Weigh In

GLND has been the subject of several recent research reports. Weiss Ratings raised Greenland Energy from a “sell (e)” rating to a “sell (d-)” rating in a research note on Tuesday, September 1st. ThinkEquity initiated coverage on shares of Greenland Energy in a report on Monday, June 15th. They set a “buy” rating for the company. Finally, Wall Street Zen cut shares of Greenland Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Greenland Energy Price Performance

NASDAQ GLND traded up $1.59 on Thursday, reaching $4.50. 39,417,612 shares of the company were exchanged, compared to its average volume of 4,099,517. The firm has a fifty day simple moving average of $1.72. The company has a market cap of $196.78 million, a PE ratio of -26.54 and a beta of -2.64. 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 issued its earnings results on Thursday, August 13th. The company reported ($0.13) earnings per share (EPS) for the quarter.

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.