Greenland Technologies (NASDAQ:GTEC) Rating Increased to Hold at Zacks Investment Research

Greenland Technologies (NASDAQ:GTECGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, reports.

According to Zacks, “Greenland Technologies Holding Corporation develops and manufactures transmission products for material handling machineries through its subsidiaries, primarily in China. The company offers transmission products, such as mechanical and hydraulic gearboxes; transaxles to small and medium-sized forklift trucks for use in manufacturing and logistic applications. It also develops robotic cargo carriers. Greenland Technologies Holding Corporation is based in Hangzhou, the People’s Republic of China. “

NASDAQ GTEC traded up $0.24 during trading hours on Thursday, hitting $3.47. 20,723 shares of the company’s stock were exchanged, compared to its average volume of 52,999. The business’s 50 day moving average is $4.13 and its 200-day moving average is $5.33. Greenland Technologies has a 12-month low of $2.60 and a 12-month high of $12.60. The firm has a market capitalization of $39.32 million, a P/E ratio of 6.43 and a beta of 1.87.

Greenland Technologies (NASDAQ:GTECGet Rating) last released its earnings results on Monday, March 28th. The company reported $0.03 earnings per share for the quarter. Greenland Technologies had a return on equity of 8.32% and a net margin of 5.72%. The firm had revenue of $22.94 million for the quarter. On average, research analysts anticipate that Greenland Technologies will post 0.63 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in GTEC. Virtu Financial LLC acquired a new stake in Greenland Technologies during the fourth quarter worth about $103,000. Morgan Stanley grew its stake in shares of Greenland Technologies by 77.9% in the first quarter. Morgan Stanley now owns 12,100 shares of the company’s stock valued at $150,000 after buying an additional 5,300 shares in the last quarter. Finally, Wells Fargo & Company MN acquired a new stake in shares of Greenland Technologies in the fourth quarter valued at about $464,000. Institutional investors own 0.98% of the company’s stock.

About Greenland Technologies (Get Rating)

Greenland Technologies Holding Corporation develops, manufactures, and sells drivetrain systems for material handling machineries and electric vehicles, and electric industrial vehicles. The company offers transmission products for forklift trucks that are used in manufacturing and logistic applications, such as factories, workshops, warehouses, fulfillment centers, shipyards, and seaports.

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