Short Interest in Greenland Technologies Holding Corporation (NASDAQ:GTEC) Drops By 38.5%

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 54,590 shares, a decrease of 38.5% from the May 31st total of 88,719 shares. Based on an average trading volume of 104,099 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.4% of the company’s shares are short sold.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GTEC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Greenland Technologies in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Greenland Technologies Price Performance

GTEC stock remained flat at $0.55 during trading on Friday. The company’s stock had a trading volume of 129,086 shares, compared to its average volume of 65,864. The firm’s 50-day simple moving average is $0.61 and its 200 day simple moving average is $0.76. Greenland Technologies has a 1 year low of $0.47 and a 1 year high of $2.09. The firm has a market cap of $11.37 million, a price-to-earnings ratio of 2.22 and a beta of 0.13.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.23 EPS for the quarter. The company had revenue of $25.54 million for the quarter. Greenland Technologies had a return on equity of 8.54% and a net margin of 6.27%. Equities research analysts anticipate that Greenland Technologies will post 0.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Mariner LLC grew its stake in Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after buying an additional 20,000 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Greenland Technologies in the third quarter worth $31,000. Finally, Centiva Capital LP purchased a new position in shares of Greenland Technologies in the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a China-based designer and manufacturer of clean energy solutions specializing in biomass resource utilization. The company develops and produces pellet fuel production lines, biomass boilers, pellet stoves and turnkey systems for sustainable heat and power generation. Its product portfolio also includes industrial?scale pelletizers, dryers, combustion equipment and control systems optimized for agricultural and forestry residues.

Beyond equipment supply, Greenland Technologies provides engineering, procurement and construction (EPC) services, along with installation, commissioning and maintenance support for biomass energy facilities.