Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Large Growth in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 267,361 shares, an increase of 389.5% from the July 30th total of 54,616 shares. Based on an average trading volume of 1,882,033 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.1% of the company’s shares are sold short.

Greenland Technologies Stock Performance

GTEC stock traded up $0.05 during trading on Friday, reaching $0.89. 45,183 shares of the company traded hands, compared to its average volume of 362,334. Greenland Technologies has a 12 month low of $0.47 and a 12 month high of $1.61. The company has a market capitalization of $18.24 million, a price-to-earnings ratio of 1.53 and a beta of 0.15. The business has a 50 day simple moving average of $0.62 and a 200 day simple moving average of $0.67.

Greenland Technologies (NASDAQ:GTEC) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. Greenland Technologies had a net margin of 12.32% and a return on equity of 17.02%. The firm had revenue of $29.88 million for the quarter, compared to the consensus estimate of $22.80 million. As a group, research analysts forecast that Greenland Technologies will post 0.59 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Greenland Technologies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Greenland Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTEC. Mariner LLC raised its holdings in shares of Greenland Technologies by 97.1% in the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after buying an additional 20,000 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Greenland Technologies in the 3rd quarter valued at about $29,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Greenland Technologies in the third quarter worth about $31,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

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.