Greenidge Generation (NASDAQ:GREE) Issues Earnings Results, Beats Estimates By $0.69 EPS

Greenidge Generation (NASDAQ:GREE) posted its earnings results on Tuesday. The company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.50) by $0.69, FiscalAI reports. The business had revenue of $12.34 million during the quarter, compared to analyst estimates of $13.70 million.

Greenidge Generation Stock Down 2.9%

Shares of GREE stock opened at $1.01 on Thursday. The stock has a 50-day simple moving average of $1.27 and a 200 day simple moving average of $1.55. The stock has a market capitalization of $15.96 million, a P/E ratio of 3.83 and a beta of 3.14. Greenidge Generation has a fifty-two week low of $0.58 and a fifty-two week high of $2.42.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GREE shares. Wall Street Zen cut shares of Greenidge Generation from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Greenidge Generation in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Greenidge Generation

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

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.