Greenland Technologies Holding Co. (NASDAQ:GTEC) Sees Significant Drop in Short Interest

Greenland Technologies Holding Co. (NASDAQ:GTEC) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 10,400 shares, a decrease of 52.5% from the February 28th total of 21,900 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 189,600 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Greenland Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP raised its position in Greenland Technologies by 30.9% during the fourth quarter. Two Sigma Investments LP now owns 118,601 shares of the company’s stock worth $230,000 after acquiring an additional 28,009 shares during the last quarter. Northern Trust Corp increased its stake in shares of Greenland Technologies by 103.7% during the 4th quarter. Northern Trust Corp now owns 53,101 shares of the company’s stock worth $103,000 after purchasing an additional 27,035 shares in the last quarter. Millennium Management LLC raised its position in shares of Greenland Technologies by 138.3% during the 4th quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock worth $96,000 after purchasing an additional 28,824 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Greenland Technologies in the 4th quarter valued at approximately $60,000. Finally, Two Sigma Advisers LP purchased a new stake in Greenland Technologies in the 4th quarter valued at approximately $56,000. 10.89% of the stock is currently owned by hedge funds and other institutional investors.

Greenland Technologies Price Performance

NASDAQ GTEC traded down $0.44 during mid-day trading on Friday, hitting $1.73. The stock had a trading volume of 1,943,249 shares, compared to its average volume of 626,435. The company has a 50 day simple moving average of $1.88 and a 200 day simple moving average of $2.11. The company has a market cap of $23.52 million, a price-to-earnings ratio of -1.82 and a beta of 1.49. Greenland Technologies has a 52-week low of $1.17 and a 52-week high of $2.94. The company has a quick ratio of 1.31, a current ratio of 1.68 and a debt-to-equity ratio of 0.02.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.95. The business had revenue of $19.37 million during the quarter, compared to analysts’ expectations of $19.00 million. Greenland Technologies had a negative return on equity of 23.51% and a negative net margin of 14.16%. During the same quarter last year, the business posted ($1.20) earnings per share. Equities analysts forecast that Greenland Technologies will post 0.49 EPS for the current fiscal year.

About Greenland Technologies

Greenland Technologies Holding Corporation designs, develops, manufactures, and sells components and products for material handling industries worldwide. The company offers transmission products, such as transmission systems and integrated powertrain primarily for electric forklift trucks; electric industrial heavy equipment, including electric wheeled front loader, electric excavator, and electric lithium forklifts; and provides charging solutions.