Greenidge Generation (NASDAQ:GREE) Price Target Cut to $42.00 by Analysts at B. Riley

Greenidge Generation (NASDAQ:GREE – Get Rating) had its target price lowered by investment analysts at B. Riley from $45.00 to $42.00 in a research note issued on Tuesday, The Fly reports.

A number of other equities analysts have also recently commented on GREE. Stifel Nicolaus started coverage on Greenidge Generation in a report on Friday, March 25th. They issued a “hold” rating and a $10.00 target price for the company. Zacks Investment Research lowered Greenidge Generation from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th.

NASDAQ GREE opened at $6.73 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 2.41. The company’s 50 day moving average price is $8.72. Greenidge Generation has a 1-year low of $2.32 and a 1-year high of $60.00.

A number of hedge funds and other institutional investors have recently modified their holdings of GREE. Advisor Group Holdings Inc. bought a new stake in Greenidge Generation during the 3rd quarter valued at $56,000. BlackRock Inc. bought a new position in shares of Greenidge Generation in the 3rd quarter worth $453,000. B. Riley Financial Inc. bought a new position in shares of Greenidge Generation in the 3rd quarter worth $6,168,000. Geode Capital Management LLC bought a new position in shares of Greenidge Generation in the 3rd quarter worth $429,000. Finally, Renaissance Technologies LLC bought a new position in shares of Greenidge Generation in the 3rd quarter worth $10,581,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Greenidge Generation Company Profile (Get Rating)

Greenidge Generation Holdings Inc operates an integrated bitcoin mining and power generation facility in the Town of Torrey, New York. It owns and operates data centers for bitcoin mining and blockchain services. As of September 30, 2021, the company had approximately 15,300 miners. It also generates and distributes electricity through a natural gas power generation facility with an installed capacity of 106 megawatt located in New York.

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