Greenland Technologies (NASDAQ:GTEC) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Greenland Technologies (NASDAQ:GTEC) from a buy rating to a hold rating in a research note released on Tuesday.

Separately, Weiss Ratings lowered Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Greenland Technologies currently has an average rating of “Sell”.

Greenland Technologies Stock Up 5.4%

GTEC stock opened at $0.70 on Tuesday. Greenland Technologies has a 52 week low of $0.58 and a 52 week high of $2.47. The firm has a market capitalization of $13.30 million, a P/E ratio of 2.25 and a beta of 0.06. The company has a fifty day simple moving average of $0.82 and a two-hundred day simple moving average of $1.02.

Greenland Technologies (NASDAQ:GTEC) last posted its earnings results on Monday, March 23rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.22). The business had revenue of $23.90 million during the quarter, compared to the consensus estimate of $20.15 million. Greenland Technologies had a return on equity of 7.66% and a net margin of 5.44%. As a group, analysts anticipate that Greenland Technologies will post 0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Mariner LLC raised its stake in shares of Greenland Technologies by 97.1% in 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 during the period. Centiva Capital LP purchased a new position in shares of Greenland Technologies during the 3rd quarter worth about $29,000. Citadel Advisors LLC bought a new position in Greenland Technologies during the 3rd quarter valued at about $31,000. Finally, GSA Capital Partners LLP bought a new position in Greenland Technologies during the 3rd quarter valued at about $34,000. Institutional investors own 10.89% of the company’s stock.

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.