Greenidge Generation (NASDAQ:GREE) Stock Price Up 0.4% – Time to Buy?

Greenidge Generation Holdings Inc. (NASDAQ:GREE)’s stock price rose 0.4% during mid-day trading on Monday . The company traded as high as $1.32 and last traded at $1.2850. Approximately 38,722 shares changed hands during trading, a decline of 64% from the average daily volume of 109,032 shares. The stock had previously closed at $1.28.

Wall Street Analyst Weigh In

GREE has been the subject of several research analyst reports. Wall Street Zen raised Greenidge Generation from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Greenidge Generation in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Greenidge Generation has an average rating of “Sell”.

Greenidge Generation Stock Performance

The business has a 50-day simple moving average of $1.43 and a two-hundred day simple moving average of $1.56. The company has a market capitalization of $20.30 million, a price-to-earnings ratio of 16.06 and a beta of 3.23.

Hedge Funds Weigh In On Greenidge Generation

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Greenidge Generation during the 4th quarter worth $37,000. XTX Topco Ltd purchased a new position in Greenidge Generation during the second quarter worth about $41,000. Jane Street Group LLC acquired a new stake in Greenidge Generation in the fourth quarter valued at about $65,000. Renaissance Technologies LLC lifted its position in Greenidge Generation by 275.2% in the fourth quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock valued at $114,000 after purchasing an additional 56,700 shares during the period. Finally, State Street Corp boosted its holdings in Greenidge Generation by 19.1% in the 4th quarter. State Street Corp now owns 79,050 shares of the company’s stock valued at $117,000 after purchasing an additional 12,700 shares in the last quarter. 8.50% of the stock is owned by institutional investors and hedge funds.

Greenidge Generation Company Profile

Greenidge Generation Holdings Inc is an energy and digital asset company that operates a natural gas–fired power plant alongside an on-site Bitcoin mining facility. The company’s primary business activities include generating electricity for the New York power grid and leveraging that generation capacity to support high-performance cryptocurrency mining. Through these complementary operations, Greenidge seeks to optimize power utilization while capitalizing on growing demand for digital assets.

The company’s core power generation assets are located in Dresden, New York, where it repurposed a former coal-fired plant under Atlas Holdings’ ownership and converted it to a combined-cycle natural gas facility.