Greenland Technologies (NASDAQ:GTEC) Posts Quarterly Earnings Results

Greenland Technologies (NASDAQ:GTEC) posted its earnings results on Friday. The company reported $0.33 earnings per share for the quarter, Zacks reports. Greenland Technologies had a net margin of 9.43% and a return on equity of 14.06%.

Greenland Technologies Trading Up 7.1%

Shares of GTEC traded up $0.07 during trading hours on Friday, reaching $1.00. The stock had a trading volume of 198,089 shares, compared to its average volume of 138,913. The company has a market cap of $17.37 million, a P/E ratio of 1.67 and a beta of 1.78. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $1.26 and a 200 day moving average of $1.65. Greenland Technologies has a 52 week low of $0.92 and a 52 week high of $2.92.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GTEC. Wall Street Zen lowered shares of Greenland Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Greenland Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.