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

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 34,494 shares, a decrease of 75.1% from the September 30th total of 138,389 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 233,891 shares, the days-to-cover ratio is currently 0.1 days.

Greenland Technologies Stock Up 4.7%

GTEC stock traded up $0.03 during midday trading on Wednesday, hitting $0.66. The company’s stock had a trading volume of 158,121 shares, compared to its average volume of 339,509. Greenland Technologies has a 12 month low of $0.47 and a 12 month high of $1.61. The company has a 50 day moving average of $0.87 and a two-hundred day moving average of $0.75. The firm has a market capitalization of $13.57 million, a price-to-earnings ratio of 1.14 and a beta of 0.22.

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

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Greenland Technologies presently has a consensus rating of “Sell”.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation (NASDAQ:GTEC) develops and manufactures electric industrial vehicles and drivetrain systems for material-handling and other heavy-equipment applications. The company’s products are designed for use in settings such as warehouses, distribution facilities, construction sites, industrial operations and other commercial environments.

Through its HEVI brand, Greenland Technologies offers electric vehicles and equipment, including electric forklifts, loaders, excavators and other utility vehicles.