Greenland Energy Co (NASDAQ:GLND) Sees Significant Drop in Short Interest

Greenland Energy Co (NASDAQ:GLND) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,714,976 shares, a decrease of 42.9% from the August 15th total of 3,003,460 shares. Based on an average daily volume of 777,208 shares, the short-interest ratio is presently 2.2 days. Approximately 3.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Greenland Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Greenland Energy from a “sell (e)” rating to a “sell (d-)” rating in a research report on Tuesday, September 1st. Finally, ThinkEquity began coverage on Greenland Energy in a research note on Monday, June 15th. They issued a “buy” rating for the company. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Greenland Energy Price Performance

NASDAQ GLND opened at $1.22 on Tuesday. The business’s 50-day simple moving average is $1.76. Greenland Energy has a twelve month low of $1.09 and a twelve month high of $23.00. The firm has a market cap of $53.35 million, a PE ratio of -7.18 and a beta of -2.64.

Greenland Energy (NASDAQ:GLND) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Insider Activity at Greenland Energy

In related news, Director Larry G. Swets, Jr. purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $2.56 per share, for a total transaction of $38,400.00. Following the transaction, the director directly owned 585,000 shares of the company’s stock, valued at $1,497,600. This trade represents a 2.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Greenland Energy

A number of hedge funds have recently modified their holdings of GLND. NewEdge Wealth LLC acquired a new position in Greenland Energy during the second quarter worth $33,000. Squarepoint Ops LLC acquired a new position in shares of Greenland Energy during the second quarter worth approximately $41,000. PEAK6 LLC bought a new position in Greenland Energy in the 2nd quarter valued at $143,000. Finally, Resolute Advisors LLC acquired a new stake in Greenland Energy in the second quarter worth about $163,000.

About Greenland Energy

Greenland Energy Company operates as an early-stage oil and gas exploration company. It focuses on the Jameson Land Basin in East Greenland. The company is based in Denver, Colorado.