Short Interest in Greenland Technologies Holding Corporation (NASDAQ:GTEC) Decreases By 38.5%

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 54,590 shares, a decline of 38.5% from the May 31st total of 88,719 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 104,099 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Greenland Technologies

Large investors have recently modified their holdings of the business. Mariner LLC increased its holdings in shares of Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock valued at $25,000 after acquiring an additional 20,000 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Greenland Technologies in the 3rd quarter valued at approximately $29,000. Finally, Citadel Advisors LLC acquired a new stake in Greenland Technologies in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Greenland Technologies Stock Performance

Shares of GTEC opened at $0.55 on Friday. The firm has a market cap of $11.37 million, a PE ratio of 2.22 and a beta of 0.13. Greenland Technologies has a 12 month low of $0.47 and a 12 month high of $2.09. The stock has a fifty day moving average price of $0.61 and a 200-day moving average price of $0.76.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on GTEC shares. Weiss Ratings restated a “sell (d)” rating on shares of Greenland Technologies in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Greenland Technologies has an average rating of “Sell”.

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.