Greenland Technologies (NASDAQ:GTEC) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Greenland Technologies (NASDAQ:GTEC) announced its quarterly earnings results on Friday. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04, Zacks reports. Greenland Technologies had a return on equity of 8.54% and a net margin of 6.27%.The company had revenue of $29.88 million during the quarter, compared to analysts’ expectations of $22.80 million.

Greenland Technologies Stock Down 1.4%

NASDAQ:GTEC opened at $0.71 on Friday. Greenland Technologies has a 52 week low of $0.47 and a 52 week high of $1.61. The stock’s 50-day moving average price is $0.57 and its 200-day moving average price is $0.67. The stock has a market capitalization of $14.58 million, a PE ratio of 2.84 and a beta of 0.15.

Institutional Trading of Greenland Technologies

Several institutional investors have recently bought and sold shares of the business. Centiva Capital LP acquired a new position in shares of Greenland Technologies during the 3rd quarter worth approximately $29,000. Citadel Advisors LLC acquired a new position in Greenland Technologies during the third quarter worth $31,000. Finally, Mariner LLC lifted its holdings in Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock valued at $25,000 after purchasing an additional 20,000 shares in the last quarter. 10.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Greenland Technologies in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock 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.