Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Significant Increase in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 88,719 shares, a growth of 85.7% from the May 14th total of 47,765 shares. Based on an average daily volume of 196,226 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Greenland Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of GTEC. Centiva Capital LP acquired a new position in Greenland Technologies in the 3rd quarter valued at $29,000. Citadel Advisors LLC purchased a new stake in shares of Greenland Technologies in the third quarter valued at about $31,000. GSA Capital Partners LLP acquired a new position in shares of Greenland Technologies during the third quarter worth about $34,000. Finally, Mariner LLC increased its stake 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 acquiring an additional 20,000 shares during the period. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Greenland Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Greenland Technologies has a consensus rating of “Sell”.

Greenland Technologies Trading Up 3.5%

Shares of GTEC traded up $0.02 during mid-day trading on Monday, hitting $0.65. 33,726 shares of the company’s stock were exchanged, compared to its average volume of 312,779. Greenland Technologies has a fifty-two week low of $0.47 and a fifty-two week high of $2.26. The business’s 50 day moving average is $0.65 and its two-hundred day moving average is $0.81. The firm has a market capitalization of $13.39 million, a P/E ratio of 2.61 and a beta of 0.11.

Greenland Technologies (NASDAQ:GTEC) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.23 EPS for the quarter. Greenland Technologies had a return on equity of 8.54% and a net margin of 6.27%.The firm had revenue of $25.54 million during the quarter. On average, equities research analysts forecast that Greenland Technologies will post 0.59 earnings per share for the current year.

About Greenland Technologies

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.