Short Interest in Greenland Mines Ltd. Common Stock (NASDAQ:GRML) Declines By 92.1%

Greenland Mines Ltd. Common Stock (NASDAQ:GRML) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 643,675 shares, a decline of 92.1% from the August 15th total of 8,112,226 shares. Approximately 22.8% of the company’s stock are short sold. Based on an average trading volume of 927,244 shares, the days-to-cover ratio is currently 0.7 days.

Greenland Mines Ltd. Common Stock Stock Down 17.5%

Shares of NASDAQ GRML traded down $0.67 during midday trading on Friday, hitting $3.15. The stock had a trading volume of 859,016 shares, compared to its average volume of 729,448. The stock has a 50 day simple moving average of $8.67 and a 200-day simple moving average of $16.88. The company has a market capitalization of $10.02 million, a PE ratio of -0.27 and a beta of 6.91. Greenland Mines Ltd. Common Stock has a 1 year low of $3.13 and a 1 year high of $36.99.

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

Insider Activity at Greenland Mines Ltd. Common Stock

In related news, Director Riad Hussein El-Dada sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $11.50, for a total value of $40,250.00. Following the completion of the transaction, the director directly owned 3,500 shares of the company’s stock, valued at $40,250. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeff Leblanc purchased 14,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average price of $9.72 per share, for a total transaction of $136,080.00. Following the purchase, the chief financial officer owned 110,406 shares in the company, valued at approximately $1,073,146.32. The trade was a 14.52% increase in their position. The SEC filing for this purchase provides additional information. 11.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Greenland Mines Ltd. Common Stock

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in Greenland Mines Ltd. Common Stock during the 2nd quarter valued at about $26,000. XTX Topco Ltd lifted its stake in Greenland Mines Ltd. Common Stock by 101.2% in the 4th quarter. XTX Topco Ltd now owns 160,569 shares of the company’s stock worth $46,000 after purchasing an additional 80,768 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Greenland Mines Ltd. Common Stock during the 4th quarter worth approximately $126,000. Geode Capital Management LLC boosted its holdings in shares of Greenland Mines Ltd. Common Stock by 51.8% during the 4th quarter. Geode Capital Management LLC now owns 491,832 shares of the company’s stock worth $142,000 after purchasing an additional 167,905 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Greenland Mines Ltd. Common Stock in the second quarter valued at approximately $1,343,000. 20.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GRML. Wall Street Zen upgraded Greenland Mines Ltd. Common Stock to a “sell” rating in a research report on Saturday, August 29th. Weiss Ratings cut shares of Greenland Mines Ltd. Common Stock from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Greenland Mines Ltd. Common Stock

Greenland Mines Ltd develops essential medicines for the treatment of chronic diseases – cancer, cardiovascular, and neurodegenerative disorders. The Company operates as a single reporting segment focused on developing essential medicines for these chronic diseases. The Company has acquired two licensed platforms: a generic drug portfolio and a biosimilar biologics platform that uses biologic therapies to treat cancer, and proprietary patented technologies involving melanocortin receptor-binding molecules and a gene therapy platform that introduces a therapeutic protein called Klotho inside the body to treat neurodegenerative diseases.