B. Riley Comments on Greenidge Generation Holdings Inc.’s Q3 2022 Earnings (NASDAQ:GREE)

Greenidge Generation Holdings Inc. (NASDAQ:GREE – Get Rating) – Analysts at B. Riley lowered their Q3 2022 earnings per share estimates for Greenidge Generation in a research report issued to clients and investors on Wednesday, May 11th. B. Riley analyst L. Pipes now expects that the company will post earnings per share of $0.20 for the quarter, down from their previous estimate of $0.30. B. Riley currently has a “Buy” rating and a $42.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus started coverage on shares of Greenidge Generation in a research report on Friday, March 25th. They set a “hold” rating and a $10.00 price target on the stock. Zacks Investment Research lowered shares of Greenidge Generation from a “hold” rating to a “strong sell” rating in a report on Thursday, April 28th.

Shares of GREE stock opened at $4.74 on Friday. The company’s 50-day moving average price is $7.90 and its 200-day moving average price is $13.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.41 and a quick ratio of 2.41. Greenidge Generation has a twelve month low of $2.32 and a twelve month high of $60.00.

A number of large investors have recently modified their holdings of GREE. Renaissance Technologies LLC purchased a new stake in Greenidge Generation during the third quarter worth about $10,581,000. B. Riley Financial Inc. purchased a new stake in shares of Greenidge Generation during the third quarter worth approximately $6,168,000. Exchange Traded Concepts LLC purchased a new stake in shares of Greenidge Generation during the fourth quarter worth approximately $3,283,000. Voss Capital LLC purchased a new stake in shares of Greenidge Generation during the third quarter worth approximately $4,856,000. Finally, BlackRock Inc. increased its stake in shares of Greenidge Generation by 767.8% during the fourth quarter. BlackRock Inc. now owns 153,606 shares of the company’s stock worth $2,465,000 after buying an additional 135,906 shares during the period. Institutional investors own 20.49% of the company’s stock.

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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