Greenland Technologies Holding Co. (NASDAQ:GTEC) Sees Large Decline in Short Interest

Greenland Technologies Holding Co. (NASDAQ:GTEC) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 10,400 shares, a decline of 52.5% from the February 28th total of 21,900 shares. Based on an average trading volume of 189,600 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Greenland Technologies

Large investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Greenland Technologies in the 4th quarter valued at $28,000. Walleye Trading LLC acquired a new stake in shares of Greenland Technologies during the fourth quarter valued at approximately $33,000. Two Sigma Advisers LP purchased a new stake in shares of Greenland Technologies in the 4th quarter valued at approximately $56,000. BNP Paribas Financial Markets acquired a new position in Greenland Technologies in the 4th quarter worth approximately $60,000. Finally, Millennium Management LLC grew its position in Greenland Technologies by 138.3% during the 4th quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock worth $96,000 after purchasing an additional 28,824 shares in the last quarter. 10.89% of the stock is owned by institutional investors.

Greenland Technologies Price Performance

NASDAQ GTEC traded down $0.44 on Friday, reaching $1.73. The company’s stock had a trading volume of 1,943,249 shares, compared to its average volume of 628,917. The firm’s 50 day moving average is $1.87 and its two-hundred day moving average is $2.10. The stock has a market cap of $23.52 million, a PE ratio of -1.82 and a beta of 1.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.31 and a current ratio of 1.68. Greenland Technologies has a twelve month low of $1.17 and a twelve month high of $2.94.

Greenland Technologies (NASDAQ:GTEC) last released its earnings results on Wednesday, March 26th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.08 by $0.37. The business had revenue of $19.37 million during the quarter, compared to analyst estimates of $19.00 million. Greenland Technologies had a negative net margin of 14.16% and a negative return on equity of 23.51%. During the same period in the prior year, the business earned ($1.20) earnings per share. As a group, sell-side analysts predict that Greenland Technologies will post 0.49 EPS for the current year.

About Greenland Technologies

Greenland Technologies Holding Corporation designs, develops, manufactures, and sells components and products for material handling industries worldwide. The company offers transmission products, such as transmission systems and integrated powertrain primarily for electric forklift trucks; electric industrial heavy equipment, including electric wheeled front loader, electric excavator, and electric lithium forklifts; and provides charging solutions.