Short Interest in Greenland Technologies Holding Corporation (NASDAQ:GTEC) Drops By 30.8%

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 269,791 shares, a decrease of 30.8% from the March 15th total of 389,604 shares. Based on an average daily trading volume, of 124,329 shares, the short-interest ratio is currently 2.2 days. Currently, 2.2% of the shares of the company are short sold.

Greenland Technologies Stock Down 0.7%

Shares of Greenland Technologies stock traded down $0.00 on Wednesday, reaching $0.70. The stock had a trading volume of 98,492 shares, compared to its average volume of 110,871. The company has a 50 day moving average price of $0.75 and a 200 day moving average price of $0.97. Greenland Technologies has a 1 year low of $0.58 and a 1 year high of $2.47. The stock has a market capitalization of $13.23 million, a P/E ratio of 2.24 and a beta of 0.03.

Greenland Technologies (NASDAQ:GTEC) last posted its quarterly earnings results on Monday, March 23rd. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.22). Greenland Technologies had a net margin of 5.44% and a return on equity of 7.66%. The firm had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $20.15 million. On average, analysts forecast that Greenland Technologies will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Greenland Technologies

A number of hedge funds have recently bought and sold shares of the business. Mariner LLC boosted its position in Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after acquiring an additional 20,000 shares during the last quarter. Centiva Capital LP purchased a new position in Greenland Technologies in the 3rd quarter worth approximately $29,000. Citadel Advisors LLC purchased a new position in Greenland Technologies in the 3rd quarter worth approximately $31,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Greenland Technologies during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GTEC. Weiss Ratings lowered shares of Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 10th. Wall Street Zen downgraded shares of Greenland Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Greenland Technologies

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.