Greenidge Generation Holdings Inc. (NASDAQ:GREE) Sees Large Decrease in Short Interest

Greenidge Generation Holdings Inc. (NASDAQ:GREE) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 318,531 shares, a decrease of 52.6% from the May 31st total of 671,550 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 218,990 shares, the short-interest ratio is currently 1.5 days.

Greenidge Generation Stock Performance

NASDAQ:GREE opened at $1.69 on Thursday. The stock has a market capitalization of $28.49 million, a price-to-earnings ratio of 4.45 and a beta of 3.02. Greenidge Generation has a 1 year low of $1.00 and a 1 year high of $2.42. The stock has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $1.38.

Greenidge Generation (NASDAQ:GREE) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.29) EPS for the quarter. Greenidge Generation had a net margin of 10.38% and a negative return on equity of 12.10%. The company had revenue of $20.83 million during the quarter.

Hedge Funds Weigh In On Greenidge Generation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in Greenidge Generation by 14.2% in the first quarter. Renaissance Technologies LLC now owns 88,300 shares of the company’s stock valued at $97,000 after purchasing an additional 11,000 shares during the last quarter. State Street Corp boosted its position in shares of Greenidge Generation by 19.1% in the 4th quarter. State Street Corp now owns 79,050 shares of the company’s stock worth $117,000 after buying an additional 12,700 shares in the last quarter. Jane Street Group LLC grew its stake in Greenidge Generation by 448.8% in the 2nd quarter. Jane Street Group LLC now owns 60,992 shares of the company’s stock valued at $79,000 after acquiring an additional 49,878 shares during the last quarter. XTX Topco Ltd increased its holdings in Greenidge Generation by 38.3% during the 4th quarter. XTX Topco Ltd now owns 36,673 shares of the company’s stock valued at $54,000 after acquiring an additional 10,161 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Greenidge Generation during the 4th quarter valued at about $37,000. 8.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised Greenidge Generation to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

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.