Greenland Technologies Holding Corporation (NASDAQ:GTEC) Short Interest Down 68.9% in August

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 83,069 shares, a decline of 68.9% from the August 15th total of 267,361 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 319,074 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Greenland Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTEC. Mariner LLC boosted its holdings in Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after buying an additional 20,000 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Greenland Technologies in the third quarter valued at $31,000. Finally, Centiva Capital LP acquired a new stake in shares of Greenland Technologies during the 3rd quarter valued at $29,000. 10.89% of the stock is owned by institutional investors and hedge funds.

Greenland Technologies Trading Down 1.9%

GTEC stock traded down $0.02 during trading hours on Friday, hitting $1.05. 241,128 shares of the stock traded hands, compared to its average volume of 279,624. The stock has a 50-day simple moving average of $0.71 and a 200 day simple moving average of $0.68. Greenland Technologies has a one year low of $0.47 and a one year high of $1.61. The company has a market cap of $21.56 million, a P/E ratio of 1.81 and a beta of 0.23.

Greenland Technologies (NASDAQ:GTEC) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.09 by $0.04. Greenland Technologies had a net margin of 12.32% and a return on equity of 17.02%. The firm had revenue of $29.88 million for the quarter, compared to analysts’ expectations of $22.80 million. Analysts forecast that Greenland Technologies will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Greenland Technologies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

About Greenland Technologies

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.