Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Large Increase in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 88,719 shares, an increase of 85.7% from the May 14th total of 47,765 shares. Based on an average trading volume of 196,226 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.7% of the company’s shares are short sold.

Greenland Technologies Trading Down 6.3%

Shares of NASDAQ:GTEC opened at $0.60 on Wednesday. The company has a market capitalization of $12.22 million, a PE ratio of 2.38 and a beta of 0.11. Greenland Technologies has a 12-month low of $0.47 and a 12-month high of $2.26. The business’s fifty day simple moving average is $0.64 and its 200-day simple moving average is $0.80.

Greenland Technologies (NASDAQ:GTEC) last announced its earnings results on Wednesday, May 13th. The company reported $0.23 earnings per share for the quarter. The company had revenue of $25.54 million during the quarter. Greenland Technologies had a net margin of 6.27% and a return on equity of 8.54%. Research analysts predict that Greenland Technologies will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Greenland Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Mariner LLC increased its stake in 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 purchasing an additional 20,000 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of Greenland Technologies during the third quarter valued at $29,000. Citadel Advisors LLC acquired a new position in shares of Greenland Technologies in the 3rd quarter valued at $31,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Greenland Technologies in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

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.