Greenland Energy (NASDAQ:GLND) Trading Down 4.7% – Here’s Why

Greenland Energy Co (NASDAQ:GLND) dropped 4.7% on Monday . The company traded as low as $2.19 and last traded at $2.23. 1,332,008 shares changed hands during mid-day trading, an increase of 94% from the average session volume of 685,818 shares. The stock had previously closed at $2.34.

Wall Street Analysts Forecast Growth

GLND has been the topic of a number of analyst reports. ThinkEquity started coverage on shares of Greenland Energy in a research note on Monday, June 15th. They set a “buy” rating on the stock. Wall Street Zen upgraded shares of Greenland Energy to a “sell” rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Greenland Energy Stock Down 4.7%

The firm’s 50 day moving average price is $2.40. The firm has a market cap of $97.52 million, a P/E ratio of -55.75 and a beta of -2.45.

Greenland Energy (NASDAQ:GLND) last announced its earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter.

Insider Transactions at Greenland Energy

In other Greenland Energy news, Director Larry G. Swets, Jr. acquired 15,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were bought at an average cost of $2.56 per share, for a total transaction of $38,400.00. Following the acquisition, the director directly owned 585,000 shares of the company’s stock, valued at $1,497,600. This trade represents a 2.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders purchased 45,000 shares of company stock worth $119,300.

Institutional Trading of Greenland Energy

A hedge fund recently bought a new stake in Greenland Energy stock. BlackRock Inc. purchased a new position in Greenland Energy Co (NASDAQ:GLND) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 143,459 shares of the company’s stock, valued at approximately $37,000. BlackRock Inc. owned about 0.33% of Greenland Energy at the end of the most recent quarter.

About Greenland Energy

Greenland Energy Company operates as an early-stage oil and gas exploration company. It focuses on the Jameson Land Basin in East Greenland. The company is based in Denver, Colorado.