Greenidge Generation (NASDAQ:GREE) Upgraded by Wall Street Zen to “Hold” Rating

Greenidge Generation (NASDAQ:GREE) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a report issued on Saturday.

Greenidge Generation Stock Down 13.9%

NASDAQ:GREE opened at $1.43 on Friday. Greenidge Generation has a 52 week low of $1.00 and a 52 week high of $2.42. The firm has a 50 day moving average of $1.27 and a 200 day moving average of $1.38. The stock has a market capitalization of $24.11 million, a price-to-earnings ratio of 3.76 and a beta of 3.07.

Greenidge Generation (NASDAQ:GREE) last posted its earnings results on Friday, May 15th. The company reported ($0.29) EPS for the quarter. Greenidge Generation had a net margin of 10.38% and a negative return on equity of 12.10%. The firm had revenue of $20.83 million for the quarter.

Institutional Investors Weigh In On Greenidge Generation

A number of hedge funds and other institutional investors have recently bought and sold shares of GREE. Virtu Financial LLC purchased a new stake in Greenidge Generation during the fourth quarter valued at approximately $37,000. XTX Topco Ltd purchased a new stake in Greenidge Generation during the second quarter valued at approximately $41,000. Jane Street Group LLC purchased a new stake in Greenidge Generation during the fourth quarter valued at approximately $65,000. Renaissance Technologies LLC lifted its position in Greenidge Generation by 14.2% during the first quarter. Renaissance Technologies LLC now owns 88,300 shares of the company’s stock valued at $97,000 after acquiring an additional 11,000 shares during the last quarter. Finally, State Street Corp increased its stake in Greenidge Generation by 19.1% during 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. Hedge funds and other institutional investors own 8.50% of the company’s stock.

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.