Greenland Technologies Holding Corporation (NASDAQ:GTEC) Short Interest Down 68.9% in August

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 83,069 shares, a drop of 68.9% from the August 15th total of 267,361 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 319,074 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Greenland Technologies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Greenland Technologies Stock Down 1.9%

Greenland Technologies stock traded down $0.02 during midday trading on Friday, reaching $1.05. 241,128 shares of the stock traded hands, compared to its average volume of 279,624. The stock’s fifty day moving average is $0.71 and its 200-day moving average is $0.68. Greenland Technologies has a 12 month low of $0.47 and a 12 month high of $1.61. The stock has a market cap of $21.56 million, a P/E ratio of 1.81 and a beta of 0.23.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings results on Friday, August 14th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The company had revenue of $29.88 million for the quarter, compared to the consensus estimate of $22.80 million. Greenland Technologies had a net margin of 12.32% and a return on equity of 17.02%. On average, equities analysts predict that Greenland Technologies will post 0.59 EPS for the current fiscal year.

Institutional Trading of Greenland Technologies

Several institutional investors have recently added to or reduced their stakes in GTEC. Mariner LLC grew its stake 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 buying an additional 20,000 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Greenland Technologies during the 3rd quarter worth approximately $31,000. Finally, Centiva Capital LP bought a new stake in shares of Greenland Technologies during the 3rd quarter worth approximately $29,000. Institutional investors own 10.89% of the company’s stock.

Greenland Technologies Company Profile

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.