Greenidge Generation (NASDAQ:GREE) Raised to Hold at Zacks Investment Research

Greenidge Generation (NASDAQ:GREEGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, reports.

According to Zacks, “Greenidge Generation Holdings Inc. is a vertically integrated bitcoin mining and power generation company. Greenidge Generation Holdings Inc. is based in DRESDEN, N.Y. “

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus initiated coverage on Greenidge Generation in a report on Friday, March 25th. They set a “hold” rating and a $10.00 price target for the company. B. Riley cut their target price on Greenidge Generation from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 26th.

Greenidge Generation stock opened at $4.83 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.41 and a current ratio of 1.13. The stock’s 50 day simple moving average is $7.41 and its two-hundred day simple moving average is $12.31. Greenidge Generation has a 12 month low of $2.45 and a 12 month high of $60.00.

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new stake in Greenidge Generation during the fourth quarter valued at approximately $854,000. Emerald Mutual Fund Advisers Trust boosted its stake in Greenidge Generation by 271.3% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 154,913 shares of the company’s stock valued at $2,486,000 after purchasing an additional 113,187 shares in the last quarter. Voss Capital LLC bought a new stake in shares of Greenidge Generation during the 3rd quarter worth $4,856,000. Renaissance Technologies LLC bought a new stake in shares of Greenidge Generation during the 3rd quarter worth $10,581,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Greenidge Generation in the third quarter valued at $685,000. 20.49% of the stock is owned by hedge funds and other institutional investors.

Greenidge Generation Company Profile (Get Rating)

Greenidge Generation Holdings Inc operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenters in New York and South Carolina. It also owns and operates a 106 MW power generation facility. The company was founded in 1937 and is based in Fairfield, Connecticut.

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