Greenland Technologies (NASDAQ:GTEC) Stock Rating Raised to Buy at Wall Street Zen

Greenland Technologies (NASDAQ:GTEC) was upgraded by research analysts at Wall Street Zen to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings cut shares of Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Greenland Technologies has an average rating of “Sell”.

Greenland Technologies Trading Up 4.3%

Shares of Greenland Technologies stock opened at $0.51 on Friday. Greenland Technologies has a 12-month low of $0.42 and a 12-month high of $1.61. The company has a 50-day moving average of $0.82 and a two-hundred day moving average of $0.73. The stock has a market cap of $10.47 million, a PE ratio of 0.88 and a beta of 0.28.

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

About Greenland Technologies

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.