Q2 2023 Earnings Forecast for Greenland Technologies Holding Co. (NASDAQ:GTEC) Issued By Litchfield Hills Research

Greenland Technologies Holding Co. (NASDAQ:GTEC – Get Rating) – Investment analysts at Litchfield Hills Research upped their Q2 2023 EPS estimates for Greenland Technologies in a research report issued to clients and investors on Monday, May 22nd. Litchfield Hills Research analyst T. O’neill now forecasts that the company will earn $0.00 per share for the quarter, up from their previous forecast of ($0.01). The consensus estimate for Greenland Technologies’ current full-year earnings is $0.07 per share. Litchfield Hills Research also issued estimates for Greenland Technologies’ Q3 2023 earnings at $0.00 EPS and Q4 2023 earnings at ($0.05) EPS.

Greenland Technologies Price Performance

Shares of NASDAQ GTEC opened at $1.89 on Wednesday. Greenland Technologies has a 12-month low of $1.13 and a 12-month high of $4.79. The company has a market capitalization of $24.53 million, a PE ratio of 7.27 and a beta of 1.52. The firm’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.97.

Greenland Technologies (NASDAQ:GTEC – Get Rating) last announced its quarterly earnings results on Thursday, March 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Greenland Technologies had a net margin of 3.85% and a return on equity of 3.87%. The business had revenue of $19.13 million during the quarter, compared to analysts’ expectations of $25.00 million.

Insider Buying and Selling at Greenland Technologies

In other news, CEO Raymond Z. Wang acquired 66,500 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was acquired at an average price of $1.50 per share, with a total value of $99,750.00. Following the completion of the transaction, the chief executive officer now directly owns 186,500 shares in the company, valued at approximately $279,750. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 50.43% of the company’s stock.

Hedge Funds Weigh In On Greenland Technologies

Institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of Greenland Technologies in the second quarter valued at approximately $110,000. Wells Fargo & Company MN raised its position in shares of Greenland Technologies by 6.7% in the fourth quarter. Wells Fargo & Company MN now owns 154,580 shares of the company’s stock valued at $337,000 after buying an additional 9,746 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Greenland Technologies in the third quarter valued at approximately $3,131,000. Institutional investors and hedge funds own 10.67% of the company’s stock.

Greenland Technologies Company Profile

(Get Rating)

Greenland Technologies Holding Corporation develops, manufactures, and sells transmission products for material handling machineries in the People's Republic of China. The company offers transmission products for forklift trucks that are used in manufacturing and logistic applications, such as factories, workshops, warehouses, fulfillment centers, shipyards, and seaports.