Greenidge Generation Holdings Inc. (NASDAQ:GREE – Get Free Report) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 318,531 shares, a decline of 52.6% from the May 31st total of 671,550 shares. Based on an average trading volume of 218,990 shares, the short-interest ratio is presently 1.5 days. Currently, 2.6% of the company’s shares are sold short.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised Greenidge Generation to a “hold” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on GREE
Hedge Funds Weigh In On Greenidge Generation
Greenidge Generation Trading Down 5.6%
Shares of NASDAQ:GREE traded down $0.10 during mid-day trading on Wednesday, reaching $1.69. The stock had a trading volume of 377,534 shares, compared to its average volume of 189,027. The firm has a 50 day simple moving average of $1.41 and a two-hundred day simple moving average of $1.38. Greenidge Generation has a twelve month low of $1.00 and a twelve month high of $2.42. The firm has a market cap of $28.49 million, a PE ratio of 4.45 and a beta of 3.07.
Greenidge Generation (NASDAQ:GREE – Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.29) earnings per share (EPS) for the quarter. Greenidge Generation had a net margin of 10.38% and a negative return on equity of 12.10%. The firm had revenue of $20.83 million for the quarter.
Greenidge Generation Company Profile
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.
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