Greenland Mines Ltd. Common Stock (NASDAQ:GRML) Rating Lowered to Strong Sell at Wall Street Zen

Greenland Mines Ltd. Common Stock (NASDAQ:GRML) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered Greenland Mines Ltd. Common Stock from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Greenland Mines Ltd. Common Stock Trading Up 7.6%

Shares of NASDAQ:GRML opened at $3.84 on Friday. The firm’s 50-day moving average is $6.22 and its 200 day moving average is $14.47. Greenland Mines Ltd. Common Stock has a 12 month low of $2.82 and a 12 month high of $36.99.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML) last posted its earnings results on Monday, August 17th. The company reported ($0.03) earnings per share for the quarter.

Greenland Mines Ltd. Common Stock announced that its board has authorized a stock buyback plan on Tuesday, October 6th that permits the company to buy back $20 million in shares. This buyback authorization permits the company to purchase up to 20.4% of its shares through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Greenland Mines Ltd. Common Stock

In related news, CFO Jeff Leblanc acquired 14,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average cost of $9.72 per share, with a total value of $136,080.00. Following the completion of the transaction, the chief financial officer owned 110,406 shares in the company, valued at $1,073,146.32. This represents a 14.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Riad Hussein El-Dada sold 3,500 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.35, for a total value of $32,725.00. The SEC filing for this sale provides additional information. 11.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Greenland Mines Ltd. Common Stock

A hedge fund recently bought a new stake in Greenland Mines Ltd. Common Stock stock. State Street Corp purchased a new position in Greenland Mines Ltd. Common Stock (NASDAQ:GRML) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 302,500 shares of the company’s stock, valued at approximately $79,000. State Street Corp owned about 9.51% of Greenland Mines Ltd. Common Stock at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.07% of the company’s stock.

About Greenland Mines Ltd. Common Stock

Klotho Neurosciences, Inc, a biopharmaceutical company, develops therapies for neurological and age-related disorders, and specialty diagnostics. Its products include cell and gene therapies to mitigate age-related pathologies, such as dementia symptoms, and Alzheimer and neuromuscular diseases; biologics/biosimilars in the treatment of cancer; and melanocortin receptors. The company has a strategic partnership with Japan’s Okinawa Research Center for the research and development of Klotho gene therapy in enhancing longevity and reducing age-related diseases.