Greenidge Generation (NASDAQ:GREE) Trading Down 7.9% – Here’s What Happened

Shares of Greenidge Generation Holdings Inc. (NASDAQ:GREE) fell 7.9% on Thursday . The company traded as low as $1.71 and last traded at $1.75. 209,912 shares were traded during trading, a decline of 46% from the average session volume of 385,951 shares. The stock had previously closed at $1.90.

Analysts Set New Price Targets

Several analysts have recently commented on GREE shares. Wall Street Zen raised Greenidge Generation from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Greenidge Generation in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Greenidge Generation has an average rating of “Sell”.

Greenidge Generation Stock Down 7.9%

The stock has a market capitalization of $27.42 million, a PE ratio of -1.38 and a beta of 3.23. The firm has a 50 day moving average price of $1.70 and a 200 day moving average price of $1.48.

Greenidge Generation (NASDAQ:GREE) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.17. The company had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $14.30 million.

Institutional Trading of Greenidge Generation

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in shares of Greenidge Generation during the second quarter valued at approximately $41,000. Ground Swell Capital LLC purchased a new stake in shares of Greenidge Generation during the first quarter valued at approximately $25,000. Virtu Financial LLC purchased a new stake in shares of Greenidge Generation during the first quarter valued at approximately $40,000. Finally, Jane Street Group LLC increased its position in shares of Greenidge Generation by 448.8% during the second quarter. Jane Street Group LLC now owns 60,992 shares of the company’s stock valued at $79,000 after acquiring an additional 49,878 shares during the last quarter. 8.50% of the stock is owned by hedge funds and other institutional investors.

Greenidge Generation Company Profile

Greenidge Generation Holdings Inc operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenter in New York, as well as hosts, powers, and provides technical support and other related services to bitcoin mining equipment owned by customers.