Short Interest in Greenland Technologies Holding Corporation (NASDAQ:GTEC) Decreases By 37.9%

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 130,908 shares, a drop of 37.9% from the April 15th total of 210,748 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 66,014 shares, the days-to-cover ratio is presently 2.0 days.

Greenland Technologies Price Performance

GTEC stock traded down $0.01 during mid-day trading on Tuesday, reaching $0.55. The company had a trading volume of 24,680 shares, compared to its average volume of 343,457. The stock has a 50 day simple moving average of $0.68 and a two-hundred day simple moving average of $0.87. The company has a market capitalization of $11.27 million, a price-to-earnings ratio of 2.20 and a beta of 0.12. Greenland Technologies has a 52 week low of $0.47 and a 52 week high of $2.26.

Greenland Technologies (NASDAQ:GTEC) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.23 earnings per share for the quarter. The firm had revenue of $25.54 million during the quarter. Greenland Technologies had a return on equity of 8.54% and a net margin of 6.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GTEC. Wall Street Zen lowered Greenland Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings lowered Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GTEC. GSA Capital Partners LLP bought a new position in shares of Greenland Technologies during the 3rd quarter worth approximately $34,000. Centiva Capital LP bought a new position in shares of Greenland Technologies during the 3rd quarter worth approximately $29,000. Citadel Advisors LLC bought a new position in shares of Greenland Technologies during the 3rd quarter worth approximately $31,000. Finally, Mariner LLC boosted its stake in shares of Greenland Technologies by 97.1% during the 4th quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after acquiring an additional 20,000 shares during the period. 10.89% of the stock is currently owned by institutional investors.

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.