Short Interest in Greenland Technologies Holding Corporation (NASDAQ:GTEC) Drops By 21.9%

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 210,748 shares, a decrease of 21.9% from the March 31st total of 269,791 shares. Based on an average daily trading volume, of 87,452 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Greenland Technologies during the 3rd quarter worth approximately $34,000. Centiva Capital LP purchased a new position in Greenland Technologies in the third quarter worth $29,000. Citadel Advisors LLC purchased a new position in Greenland Technologies in the third quarter worth $31,000. Finally, Mariner LLC increased its position in shares of Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after purchasing an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Greenland Technologies Trading Up 1.3%

Shares of NASDAQ GTEC opened at $0.69 on Wednesday. Greenland Technologies has a 12-month low of $0.58 and a 12-month high of $2.47. The stock’s fifty day simple moving average is $0.73 and its two-hundred day simple moving average is $0.93. The stock has a market capitalization of $13.19 million, a PE ratio of 2.24 and a beta of 0.03.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.22). Greenland Technologies had a return on equity of 7.66% and a net margin of 5.44%.The company had revenue of $23.90 million during the quarter, compared to the consensus estimate of $20.15 million. On average, equities analysts predict that Greenland Technologies will post 0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on GTEC. Weiss Ratings lowered Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 10th. Wall Street Zen cut shares of Greenland Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.