Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Large Growth in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 86,630 shares, a growth of 103.0% from the December 15th total of 42,681 shares. Based on an average daily volume of 495,916 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.8% of the shares of the company are sold short. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 495,916 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Greenland Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP bought a new stake in shares of Greenland Technologies during the 3rd quarter worth $34,000. Citadel Advisors LLC bought a new position in Greenland Technologies in the third quarter valued at about $31,000. Finally, Centiva Capital LP acquired a new position in Greenland Technologies during the third quarter worth about $29,000. Institutional investors own 10.89% of the company’s stock.

Greenland Technologies Trading Down 14.9%

Shares of Greenland Technologies stock opened at $1.26 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.93 and a debt-to-equity ratio of 0.01. Greenland Technologies has a 12-month low of $0.58 and a 12-month high of $2.92. The company has a market capitalization of $21.91 million, a price-to-earnings ratio of 1.29 and a beta of 0.09. The firm’s 50-day moving average price is $1.01 and its two-hundred day moving average price is $1.30.

Greenland Technologies (NASDAQ:GTEC) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The company had revenue of $23.40 million during the quarter, compared to the consensus estimate of $23.40 million. Greenland Technologies had a net margin of 16.38% and a return on equity of 20.63%. On average, analysts forecast that Greenland Technologies will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GTEC shares. Weiss Ratings restated a “sell (d+)” rating on shares of Greenland Technologies in a research report on Monday, December 29th. Wall Street Zen upgraded Greenland Technologies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Greenland Technologies presently has an average 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.