Greenland Technologies Holding Corporation (NASDAQ:GTEC) Short Interest Update

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 267,361 shares, a growth of 389.5% from the July 30th total of 54,616 shares. Based on an average trading volume of 1,882,033 shares, the short-interest ratio is presently 0.1 days. Currently, 2.1% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Greenland Technologies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Greenland Technologies Price Performance

Shares of Greenland Technologies stock traded down $0.03 during trading on Thursday, hitting $0.84. 128,539 shares of the company were exchanged, compared to its average volume of 1,121,004. The firm has a market capitalization of $17.27 million, a P/E ratio of 1.45 and a beta of 0.15. Greenland Technologies has a 1-year low of $0.47 and a 1-year high of $1.61. The firm’s fifty day moving average price is $0.62 and its 200 day moving average price is $0.67.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Greenland Technologies had a net margin of 12.32% and a return on equity of 17.02%. The business had revenue of $29.88 million for the quarter, compared to the consensus estimate of $22.80 million. As a group, equities research analysts anticipate that Greenland Technologies will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On Greenland Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mariner LLC increased its position in shares of 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 in the last quarter. Citadel Advisors LLC bought a new position in Greenland Technologies during the third quarter worth about $31,000. Finally, Centiva Capital LP acquired a new position in Greenland Technologies in the third quarter valued at about $29,000. 10.89% of the stock is owned by institutional investors.

Greenland Technologies Company Profile

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.