Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Large Decline in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 26,400 shares, adropof48.9% from the July 15th total of 51,700 shares. Currently,0.3% of the shares of the company are short sold. Based on an average trading volume of 139,100 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 139,100 shares, the days-to-cover ratio is presently 0.2 days. Currently,0.3% of the shares of the company are short sold.

Greenland Technologies Stock Up 5.0%

Shares of GTEC stock opened at $1.26 on Wednesday. The company has a market capitalization of $21.91 million, a price-to-earnings ratio of 2.10 and a beta of 1.97. Greenland Technologies has a one year low of $1.14 and a one year high of $2.9365. The company’s fifty day moving average price is $1.84 and its 200-day moving average price is $1.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.25.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.20) EPS for the quarter. The firm had revenue of $21.72 million for the quarter. Greenland Technologies had a net margin of 9.43% and a return on equity of 14.06%. Sell-side analysts expect that Greenland Technologies will post 0.49 EPS for the current fiscal year.

Institutional Trading of Greenland Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Greenland Technologies during the 4th quarter valued at $28,000. Walleye Trading LLC bought a new stake in Greenland Technologies in the 4th quarter valued at $33,000. Northern Trust Corp increased its holdings in Greenland Technologies by 103.7% in the 4th quarter. Northern Trust Corp now owns 53,101 shares of the company’s stock valued at $103,000 after acquiring an additional 27,035 shares during the last quarter. Two Sigma Investments LP increased its holdings in Greenland Technologies by 30.9% in the 4th quarter. Two Sigma Investments LP now owns 118,601 shares of the company’s stock valued at $230,000 after acquiring an additional 28,009 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Greenland Technologies by 138.3% in the 4th quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock valued at $96,000 after acquiring an additional 28,824 shares during the last quarter. 10.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research note on Saturday.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation designs, develops, manufactures, and sells components and products for material handling industries worldwide. The company offers transmission products, such as transmission systems and integrated powertrain primarily for electric forklift trucks; electric industrial heavy equipment, including electric wheeled front loader, electric excavator, and electric lithium forklifts; and provides charging solutions.