Greenland Technologies Holding Corporation (NASDAQ:GTEC) Stock Short Interest Climbs 258.7%

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a large increase in short interest in October. As of October 30th, there was short interest totaling 123,727 shares, an increase of 258.7% from the October 15th total of 34,494 shares. Based on an average daily volume of 111,661 shares, the short-interest ratio is presently 1.1 days. Approximately 1.0% of the shares of the stock are short sold.

Greenland Technologies Trading Up 0.2%

Shares of GTEC traded up $0.00 during mid-day trading on Thursday, hitting $0.50. The company’s stock had a trading volume of 1,093,148 shares, compared to its average volume of 338,638. The firm has a market capitalization of $10.33 million, a price-to-earnings ratio of 0.87 and a beta of 0.28. The company’s 50-day moving average is $0.80 and its 200-day moving average is $0.72. Greenland Technologies has a 52-week low of $0.42 and a 52-week high of $1.61.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings results on Thursday, November 12th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. The firm had revenue of $24.86 million during the quarter, compared to analyst estimates of $24.60 million. Greenland Technologies had a return on equity of 17.02% and a net margin of 12.32%. As a group, sell-side analysts predict that Greenland Technologies will post 0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GTEC has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Greenland Technologies to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings cut shares of Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation (NASDAQ:GTEC) develops and manufactures electric industrial vehicles and drivetrain systems for material-handling and other heavy-equipment applications. The company’s products are designed for use in settings such as warehouses, distribution facilities, construction sites, industrial operations and other commercial environments. Through its HEVI brand, Greenland Technologies offers electric vehicles and equipment, including electric forklifts, loaders, excavators and other utility vehicles.