Greenidge Generation (NASDAQ:GREE) Releases Quarterly Earnings Results

Greenidge Generation (NASDAQ:GREE) posted its earnings results on Tuesday. The company reported $0.19 EPS for the quarter, FiscalAI reports. The business had revenue of $12.34 million for the quarter.

Greenidge Generation Stock Up 2.8%

Shares of NASDAQ GREE traded up $0.03 during trading on Tuesday, hitting $1.10. The company had a trading volume of 82,984 shares, compared to its average volume of 187,093. The firm has a market capitalization of $17.38 million, a price-to-earnings ratio of 13.75 and a beta of 3.22. The stock has a fifty day simple moving average of $1.28 and a two-hundred day simple moving average of $1.55. Greenidge Generation has a fifty-two week low of $0.58 and a fifty-two week high of $2.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GREE. Virtu Financial LLC purchased a new stake in Greenidge Generation during the 4th quarter worth approximately $37,000. XTX Topco Ltd acquired a new stake in shares of Greenidge Generation in the second quarter worth approximately $41,000. Jane Street Group LLC acquired a new stake in shares of Greenidge Generation in the fourth quarter worth approximately $65,000. Renaissance Technologies LLC increased its position in shares of Greenidge Generation by 275.2% during the fourth quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock worth $114,000 after purchasing an additional 56,700 shares in the last quarter. Finally, State Street Corp raised its stake in Greenidge Generation by 19.1% in the 4th quarter. State Street Corp now owns 79,050 shares of the company’s stock valued at $117,000 after purchasing an additional 12,700 shares during the last quarter. 8.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Greenidge Generation from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Greenidge Generation in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

About Greenidge Generation

Greenidge Generation Holdings Inc is an energy and digital asset company that operates a natural gas–fired power plant alongside an on-site Bitcoin mining facility. The company’s primary business activities include generating electricity for the New York power grid and leveraging that generation capacity to support high-performance cryptocurrency mining. Through these complementary operations, Greenidge seeks to optimize power utilization while capitalizing on growing demand for digital assets.

The company’s core power generation assets are located in Dresden, New York, where it repurposed a former coal-fired plant under Atlas Holdings’ ownership and converted it to a combined-cycle natural gas facility.