Short Interest in Greenland Technologies Holding Co. (NASDAQ:GTEC) Drops By 52.5%

Greenland Technologies Holding Co. (NASDAQ:GTEC) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 10,400 shares, a drop of 52.5% from the February 28th total of 21,900 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 189,600 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Greenland Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in Greenland Technologies during the 4th quarter valued at approximately $28,000. Walleye Trading LLC bought a new stake in shares of Greenland Technologies during the fourth quarter valued at approximately $33,000. Two Sigma Advisers LP bought a new stake in shares of Greenland Technologies during the fourth quarter valued at approximately $56,000. BNP Paribas Financial Markets bought a new position in Greenland Technologies in the fourth quarter worth $60,000. Finally, Millennium Management LLC lifted its position in Greenland Technologies by 138.3% during the fourth quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock valued at $96,000 after buying an additional 28,824 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Greenland Technologies Trading Down 20.3 %

NASDAQ:GTEC traded down $0.44 during mid-day trading on Friday, reaching $1.73. 1,943,249 shares of the company’s stock traded hands, compared to its average volume of 628,917. Greenland Technologies has a 12-month low of $1.17 and a 12-month high of $2.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.68 and a quick ratio of 1.31. The company has a 50 day moving average price of $1.87 and a 200-day moving average price of $2.10. The firm has a market capitalization of $23.52 million, a price-to-earnings ratio of -1.82 and a beta of 1.49.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.37. The company had revenue of $19.37 million during the quarter, compared to analyst estimates of $19.00 million. Greenland Technologies had a negative return on equity of 23.51% and a negative net margin of 14.16%. During the same quarter last year, the firm posted ($1.20) earnings per share. On average, sell-side analysts predict that Greenland Technologies will post 0.49 earnings per share for the current year.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation designs, develops, manufactures, and sells components and products for material handling industries worldwide. The company offers transmission products, such as transmission systems and integrated powertrain primarily for electric forklift trucks; electric industrial heavy equipment, including electric wheeled front loader, electric excavator, and electric lithium forklifts; and provides charging solutions.