Short Interest in Greenland Technologies Holding Corporation (NASDAQ:GTEC) Drops By 36.8%

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 64,200 shares, a drop of 36.8% from the August 31st total of 101,600 shares. Based on an average trading volume of 177,300 shares, the short-interest ratio is currently 0.4 days. Approximately 0.7% of the shares of the company are short sold. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 177,300 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Greenland Technologies in a research note on Saturday, September 27th. Wall Street Zen cut Greenland Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Greenland Technologies currently has an average rating of “Sell”.

Greenland Technologies Stock Performance

NASDAQ:GTEC opened at $1.35 on Friday. The stock has a market cap of $23.39 million, a P/E ratio of 2.24 and a beta of 1.86. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $1.40 and its two-hundred day moving average price is $1.71. Greenland Technologies has a twelve month low of $1.14 and a twelve month high of $2.92.

Greenland Technologies (NASDAQ:GTEC) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.20) EPS for the quarter. The business had revenue of $21.72 million for the quarter. Greenland Technologies had a return on equity of 14.06% and a net margin of 9.43%. As a group, equities analysts predict that Greenland Technologies will post 0.49 EPS for the current fiscal year.

Institutional Trading of Greenland Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP lifted its holdings in shares of Greenland Technologies by 30.9% during the 4th quarter. Two Sigma Investments LP now owns 118,601 shares of the company’s stock worth $230,000 after acquiring an additional 28,009 shares during the last quarter. Millennium Management LLC raised 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 purchasing an additional 28,824 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Greenland Technologies during the fourth quarter worth about $56,000. Finally, Jane Street Group LLC bought a new stake in Greenland Technologies during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

About Greenland Technologies

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.