Greenland Technologies (NASDAQ:GTEC) Trading Down 3.8% – What’s Next?

Greenland Technologies Holding Corporation (NASDAQ:GTEC)’s stock price dropped 3.8% on Thursday . The company traded as low as $0.52 and last traded at $0.5250. Approximately 62,220 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 60,129 shares. The stock had previously closed at $0.5460.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GTEC. Wall Street Zen downgraded Greenland Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Greenland Technologies in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Greenland Technologies has a consensus rating of “Sell”.

Greenland Technologies Stock Performance

The stock has a 50 day moving average of $0.59 and a two-hundred day moving average of $0.73. The stock has a market cap of $10.52 million, a PE ratio of 2.05 and a beta of 0.13.

Greenland Technologies (NASDAQ:GTEC) last released its earnings results on Wednesday, May 13th. The company reported $0.23 earnings per share for the quarter. Greenland Technologies had a net margin of 6.27% and a return on equity of 8.54%. The business had revenue of $25.54 million for the quarter. Analysts expect that Greenland Technologies Holding Corporation will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Greenland Technologies

Several hedge funds have recently bought and sold shares of the business. Centiva Capital LP acquired a new position in shares of Greenland Technologies in the 3rd quarter valued at about $29,000. Citadel Advisors LLC purchased a new stake in Greenland Technologies in the 3rd quarter worth approximately $31,000. Finally, Mariner LLC grew its holdings in shares of Greenland Technologies by 97.1% during the 4th quarter. Mariner LLC now owns 40,596 shares of the company’s stock valued at $25,000 after acquiring an additional 20,000 shares in the last quarter. 10.89% of the stock is owned by hedge funds and other institutional investors.

Greenland Technologies Company Profile

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.