Wall Street Zen Upgrades Greenidge Generation (NASDAQ:GREE) to “Hold”

Greenidge Generation (NASDAQ:GREE) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report released on Thursday.

Greenidge Generation Price Performance

GREE opened at $1.59 on Thursday. The firm has a 50 day moving average price of $0.91 and a 200-day moving average price of $1.41. Greenidge Generation has a twelve month low of $0.58 and a twelve month high of $3.84.

Greenidge Generation (NASDAQ:GREE) last announced its earnings results on Thursday, May 15th. The company reported ($0.40) EPS for the quarter.

Insider Buying and Selling

In other news, Director Christopher J. Krug bought 70,000 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was purchased at an average price of $0.83 per share, for a total transaction of $58,100.00. Following the acquisition, the director now owns 221,607 shares of the company’s stock, valued at $183,933.81. The trade was a 46.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 90,448 shares of company stock worth $78,904. 27.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Soviero Asset Management LP purchased a new position in Greenidge Generation during the 4th quarter valued at about $389,000. Virtu Financial LLC purchased a new position in Greenidge Generation during the 1st quarter valued at about $40,000. Finally, Ground Swell Capital LLC purchased a new position in Greenidge Generation during the 1st quarter valued at about $25,000. Hedge funds and other institutional investors own 8.50% of the company’s stock.

About Greenidge Generation

Greenidge Generation Holdings Inc operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenter in New York, as well as hosts, powers, and provides technical support and other related services to bitcoin mining equipment owned by customers.