Greenidge Generation (NASDAQ:GREE) Stock Rating Lowered by Wall Street Zen

Greenidge Generation (NASDAQ:GREE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Greenidge Generation in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Greenidge Generation Price Performance

Shares of GREE opened at $1.51 on Friday. The company has a market capitalization of $23.86 million, a P/E ratio of 18.88 and a beta of 3.22. Greenidge Generation has a one year low of $0.58 and a one year high of $2.42. The business’s 50 day simple moving average is $1.38 and its 200-day simple moving average is $1.56.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of Greenidge Generation during the second quarter worth approximately $41,000. Jane Street Group LLC lifted its stake in shares of Greenidge Generation by 448.8% in the 2nd quarter. Jane Street Group LLC now owns 60,992 shares of the company’s stock valued at $79,000 after purchasing an additional 49,878 shares during the period. GSA Capital Partners LLP boosted its position in shares of Greenidge Generation by 14.3% in the 3rd quarter. GSA Capital Partners LLP now owns 135,437 shares of the company’s stock worth $246,000 after purchasing an additional 16,914 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Greenidge Generation by 275.2% in the 4th quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock worth $114,000 after purchasing an additional 56,700 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Greenidge Generation by 19.1% during the fourth quarter. State Street Corp now owns 79,050 shares of the company’s stock worth $117,000 after purchasing an additional 12,700 shares during the period. Institutional investors own 8.50% of the company’s stock.

About Greenidge Generation

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.