Wall Street Zen Downgrades Greenland Technologies (NASDAQ:GTEC) to Hold

Greenland Technologies (NASDAQ:GTEC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Weiss Ratings downgraded shares of Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Greenland Technologies Trading Down 2.7%

Shares of Greenland Technologies stock opened at $0.66 on Tuesday. The firm has a market capitalization of $12.62 million, a P/E ratio of 2.14 and a beta of 0.06. The business has a fifty day simple moving average of $0.84 and a two-hundred day simple moving average of $1.02. Greenland Technologies has a 12 month low of $0.58 and a 12 month high of $2.47.

Greenland Technologies (NASDAQ:GTEC) last released its earnings results on Monday, March 23rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.22). Greenland Technologies had a return on equity of 7.66% and a net margin of 5.44%.The business had revenue of $23.90 million during the quarter, compared to analysts’ expectations of $20.15 million. Analysts predict that Greenland Technologies will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On Greenland Technologies

A number of hedge funds have recently added to or reduced their stakes in GTEC. Citadel Advisors LLC purchased a new stake in Greenland Technologies during the third quarter valued at $31,000. Centiva Capital LP purchased a new position in Greenland Technologies during the third quarter valued at approximately $29,000. Mariner LLC lifted its stake in shares of Greenland Technologies by 97.1% during the 4th quarter. Mariner LLC now owns 40,596 shares of the company’s stock valued at $25,000 after buying an additional 20,000 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Greenland Technologies in the third quarter valued at about $34,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

About Greenland Technologies

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.