Greenland Technologies (NASDAQ:GTEC) Stock Price Down 7.8% – Should You Sell?

Greenland Technologies Holding Corporation (NASDAQ:GTEC) fell 7.8% during mid-day trading on Monday . The company traded as low as $1.06 and last traded at $1.06. 132,555 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 146,825 shares. The stock had previously closed at $1.15.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GTEC. Weiss Ratings reiterated a “sell (d)” rating on shares of Greenland Technologies in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Greenland Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Greenland Technologies Stock Performance

The business’s fifty day moving average price is $1.29 and its two-hundred day moving average price is $1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.68. The stock has a market capitalization of $18.43 million, a P/E ratio of 1.77 and a beta of 1.78.

Greenland Technologies (NASDAQ:GTEC) last posted its earnings results on Wednesday, August 13th. The company reported ($0.20) earnings per share for the quarter. Greenland Technologies had a return on equity of 14.06% and a net margin of 9.43%.The business had revenue of $21.72 million during the quarter. As a group, sell-side analysts forecast that Greenland Technologies Holding Corporation will post 0.49 earnings per share for the current year.

Greenland Technologies Company Profile

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.