Greenland Technologies Holding Corporation (NASDAQ:GTEC) Short Interest Down 68.9% in August

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 83,069 shares, a drop of 68.9% from the August 15th total of 267,361 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 319,074 shares, the days-to-cover ratio is presently 0.3 days.

Greenland Technologies Stock Up 2.9%

NASDAQ GTEC traded up $0.03 during trading on Monday, hitting $1.08. 172,929 shares of the stock traded hands, compared to its average volume of 352,057. The company has a market capitalization of $22.17 million, a P/E ratio of 1.86 and a beta of 0.23. Greenland Technologies has a 12-month low of $0.47 and a 12-month high of $1.61. The firm has a 50-day simple moving average of $0.71 and a 200-day simple moving average of $0.68.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Greenland Technologies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

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.