Greenidge Generation (NASDAQ:GREE) Shares Up 1.8% – Here’s What Happened

Greenidge Generation Holdings Inc. (NASDAQ:GREE) rose 1.8% during mid-day trading on Wednesday . The company traded as high as $1.77 and last traded at $1.68. Approximately 802,337 shares changed hands during trading, a decline of 30% from the average session volume of 1,151,372 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

Several research analysts recently issued reports on GREE shares. Wall Street Zen upgraded shares of Greenidge Generation to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “sell (d)” rating on shares of Greenidge Generation in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Greenidge Generation Stock Performance

The company has a market cap of $31.19 million, a P/E ratio of 4.87 and a beta of 3.02. The stock has a 50-day moving average of $1.91 and a two-hundred day moving average of $1.50.

Greenidge Generation (NASDAQ:GREE) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.29) EPS for the quarter. The business had revenue of $20.83 million for the quarter. Greenidge Generation had a net margin of 10.38% and a negative return on equity of 12.10%.

Hedge Funds Weigh In On Greenidge Generation

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd lifted its stake in Greenidge Generation by 38.3% in the fourth quarter. XTX Topco Ltd now owns 36,673 shares of the company’s stock worth $54,000 after purchasing an additional 10,161 shares during the last quarter. Renaissance Technologies LLC boosted its position in Greenidge Generation by 14.2% during the first quarter. Renaissance Technologies LLC now owns 88,300 shares of the company’s stock valued at $97,000 after buying an additional 11,000 shares during the period. State Street Corp grew its stake in shares of Greenidge Generation by 19.1% during the fourth quarter. State Street Corp now owns 79,050 shares of the company’s stock valued at $117,000 after buying an additional 12,700 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Greenidge Generation during the fourth quarter valued at about $37,000. Finally, Jane Street Group LLC purchased a new position in shares of Greenidge Generation in the fourth quarter worth about $65,000. Institutional investors own 8.50% of the company’s stock.

About Greenidge Generation

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.