Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Significant Decrease in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the recipient of a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 155,300 shares, a decrease of 25.4% from the May 15th total of 208,100 shares. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.7% of the company’s stock are sold short.

Greenland Technologies Stock Down 1.4%

GTEC stock opened at $2.11 on Friday. Greenland Technologies has a twelve month low of $1.17 and a twelve month high of $2.94. The company has a market cap of $36.69 million, a PE ratio of 1.85 and a beta of 2.02. The business’s 50-day simple moving average is $1.92 and its 200 day simple moving average is $1.91. The company has a quick ratio of 1.24, a current ratio of 1.66 and a debt-to-equity ratio of 0.02.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.29 EPS for the quarter. Greenland Technologies had a net margin of 18.78% and a return on equity of 24.71%. On average, research analysts anticipate that Greenland Technologies will post 0.49 earnings per share for the current year.

Insider Activity

In other Greenland Technologies news, Director Peter Wang purchased 6,211,740 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were bought at an average cost of $1.00 per share, with a total value of $6,211,740.00. Following the completion of the transaction, the director now owns 6,211,740 shares in the company, valued at $6,211,740. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 47.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Greenland Technologies

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in shares of Greenland Technologies in the fourth quarter valued at approximately $60,000. Two Sigma Investments LP raised its stake in shares of Greenland Technologies by 30.9% in the fourth quarter. Two Sigma Investments LP now owns 118,601 shares of the company’s stock valued at $230,000 after acquiring an additional 28,009 shares during the last quarter. Northern Trust Corp raised its stake in shares of Greenland Technologies by 103.7% in the fourth quarter. Northern Trust Corp now owns 53,101 shares of the company’s stock valued at $103,000 after acquiring an additional 27,035 shares during the last quarter. Millennium Management LLC raised its stake in shares of Greenland Technologies by 138.3% in the fourth quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock valued at $96,000 after acquiring an additional 28,824 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Greenland Technologies in the fourth quarter valued at approximately $56,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation designs, develops, manufactures, and sells components and products for material handling industries worldwide. The company offers transmission products, such as transmission systems and integrated powertrain primarily for electric forklift trucks; electric industrial heavy equipment, including electric wheeled front loader, electric excavator, and electric lithium forklifts; and provides charging solutions.