Short Interest in Greenidge Generation Holdings Inc. (NASDAQ:GREE) Drops By 52.6%

Greenidge Generation Holdings Inc. (NASDAQ:GREE) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 318,531 shares, a drop of 52.6% from the May 31st total of 671,550 shares. Based on an average daily volume of 218,990 shares, the short-interest ratio is currently 1.5 days. Approximately 2.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Greenidge Generation during the 2nd quarter valued at about $41,000. Jane Street Group LLC grew its stake in shares of Greenidge Generation by 448.8% during the second quarter. Jane Street Group LLC now owns 60,992 shares of the company’s stock worth $79,000 after acquiring an additional 49,878 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Greenidge Generation by 275.2% during the fourth quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock valued at $114,000 after acquiring an additional 56,700 shares in the last quarter. State Street Corp increased its holdings in shares of Greenidge Generation by 19.1% during the fourth quarter. State Street Corp now owns 79,050 shares of the company’s stock valued at $117,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Greenidge Generation in the 4th quarter valued at approximately $37,000. 8.50% of the stock is currently owned by hedge funds and other institutional investors.

Greenidge Generation Trading Up 3.5%

Shares of NASDAQ:GREE traded up $0.06 during trading on Tuesday, reaching $1.79. The stock had a trading volume of 204,102 shares, compared to its average volume of 187,420. Greenidge Generation has a one year low of $1.00 and a one year high of $2.42. The company has a market capitalization of $30.18 million, a P/E ratio of 4.71 and a beta of 3.07. The firm’s 50-day simple moving average is $1.41 and its 200 day simple moving average is $1.38.

Greenidge Generation (NASDAQ:GREE) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.29) EPS for the quarter. The firm had revenue of $20.83 million for the quarter. Greenidge Generation had a negative return on equity of 12.10% and a net margin of 10.38%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Greenidge Generation to a “hold” rating in a report on Saturday, June 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

About Greenidge Generation

Greenidge Generation Holdings Inc is an energy and digital asset company that operates a natural gas–fired power plant alongside an on-site Bitcoin mining facility. The company’s primary business activities include generating electricity for the New York power grid and leveraging that generation capacity to support high-performance cryptocurrency mining. Through these complementary operations, Greenidge seeks to optimize power utilization while capitalizing on growing demand for digital assets.

The company’s core power generation assets are located in Dresden, New York, where it repurposed a former coal-fired plant under Atlas Holdings’ ownership and converted it to a combined-cycle natural gas facility.