Greenidge Generation (NASDAQ:GREE) Posts Quarterly Earnings Results

Greenidge Generation (NASDAQ:GREE) issued its quarterly earnings results on Friday. The company reported ($0.29) EPS for the quarter, FiscalAI reports. The firm had revenue of $20.84 million during the quarter. Greenidge Generation had a net margin of 8.99% and a negative return on equity of 9.83%.

Greenidge Generation Stock Performance

Shares of NASDAQ:GREE traded up $0.02 during midday trading on Friday, hitting $1.47. The company’s stock had a trading volume of 391,695 shares, compared to its average volume of 175,624. The stock has a market capitalization of $23.86 million, a price-to-earnings ratio of 5.44 and a beta of 2.98. The stock’s 50 day simple moving average is $1.24 and its 200 day simple moving average is $1.41. Greenidge Generation has a fifty-two week low of $1.00 and a fifty-two week high of $2.42.

Wall Street Analyst Weigh In

GREE has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Greenidge Generation in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Greenidge Generation from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of Greenidge Generation

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its holdings in shares of Greenidge Generation by 275.2% during the 4th quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock worth $114,000 after acquiring an additional 56,700 shares during the period. Jane Street Group LLC lifted its holdings in shares of Greenidge Generation by 448.8% during the 2nd quarter. Jane Street Group LLC now owns 60,992 shares of the company’s stock worth $79,000 after acquiring an additional 49,878 shares during the period. XTX Topco Ltd bought a new position in shares of Greenidge Generation during the 2nd quarter worth about $41,000. Virtu Financial LLC bought a new position in shares of Greenidge Generation during the 4th quarter worth about $37,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Greenidge Generation by 14.3% during the 3rd quarter. GSA Capital Partners LLP now owns 135,437 shares of the company’s stock worth $246,000 after acquiring an additional 16,914 shares during the period. 8.50% of the stock is currently owned by institutional investors and hedge funds.

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.