Greenland Technologies (NASDAQ:GTEC) Issues Earnings Results, Beats Estimates By $0.08 EPS

Greenland Technologies (NASDAQ:GTEC) issued its earnings results on Thursday. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08, FiscalAI reports. The company had revenue of $24.86 million for the quarter, compared to analysts’ expectations of $24.60 million. Greenland Technologies had a net margin of 12.32% and a return on equity of 17.02%.

Greenland Technologies Trading Down 1.5%

GTEC stock traded down $0.01 during midday trading on Thursday, hitting $0.49. The company had a trading volume of 1,105,104 shares, compared to its average volume of 183,957. Greenland Technologies has a 52 week low of $0.42 and a 52 week high of $1.61. The stock’s 50 day moving average price is $0.79 and its 200 day moving average price is $0.71. The stock has a market cap of $10.15 million, a price-to-earnings ratio of 0.85 and a beta of 0.28.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GTEC. Wall Street Zen raised Greenland Technologies to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings downgraded Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About Greenland Technologies

Greenland Technologies Holding Corporation (NASDAQ:GTEC) develops and manufactures electric industrial vehicles and drivetrain systems for material-handling and other heavy-equipment applications. The company’s products are designed for use in settings such as warehouses, distribution facilities, construction sites, industrial operations and other commercial environments. Through its HEVI brand, Greenland Technologies offers electric vehicles and equipment, including electric forklifts, loaders, excavators and other utility vehicles.