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 on Monday, May 22nd. Litchfield Hills Research analyst T. O’neill now forecasts that the company will post earnings of $0.00 per share for the quarter, up from their prior estimate 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 (NASDAQ:GTEC – Get Rating) last posted its quarterly earnings data on Thursday, March 30th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). The business had revenue of $19.13 million during the quarter, compared to analyst estimates of $25.00 million. Greenland Technologies had a net margin of 3.85% and a return on equity of 3.87%.

Greenland Technologies Stock Performance

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

Institutional Trading of Greenland Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Greenland Technologies by 79.5% in the fourth quarter. Millennium Management LLC now owns 27,812 shares of the company’s stock valued at $60,000 after acquiring an additional 12,320 shares in the last quarter. Wells Fargo & Company MN boosted its holdings 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 acquiring an additional 9,746 shares in the last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of Greenland Technologies in the third quarter valued at about $3,131,000. Hedge funds and other institutional investors own 10.67% of the company’s stock.

Insider Buying and Selling at Greenland Technologies

In other news, CEO Raymond Z. Wang bought 66,500 shares of the stock in a transaction dated Monday, May 22nd. The shares were acquired at an average price of $1.50 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 186,500 shares in the company, valued at $279,750. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 50.43% of the stock is currently owned by company insiders.

About Greenland Technologies

(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.