Greenidge Generation (NASDAQ:GREE) Trading 0.4% Higher – What’s Next?

Greenidge Generation Holdings Inc. (NASDAQ:GREE)’s stock price rose 0.4% during trading on Monday . The stock traded as high as $1.32 and last traded at $1.2850. Approximately 38,722 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 109,032 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

GREE has been the topic of several analyst reports. Wall Street Zen upgraded Greenidge Generation from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Greenidge Generation in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Greenidge Generation Stock Performance

The firm has a market capitalization of $20.30 million, a price-to-earnings ratio of 16.06 and a beta of 3.23. The company has a 50-day moving average price of $1.43 and a 200-day moving average price of $1.56.

Institutional Trading of Greenidge Generation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its position in shares of Greenidge Generation by 38.3% in the 4th quarter. XTX Topco Ltd now owns 36,673 shares of the company’s stock valued at $54,000 after buying an additional 10,161 shares during the last quarter. State Street Corp boosted its stake in Greenidge Generation by 19.1% in the fourth quarter. State Street Corp now owns 79,050 shares of the company’s stock valued at $117,000 after acquiring an additional 12,700 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Greenidge Generation by 14.3% during the third quarter. GSA Capital Partners LLP now owns 135,437 shares of the company’s stock worth $246,000 after purchasing an additional 16,914 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Greenidge Generation during the fourth quarter worth about $37,000. Finally, Jane Street Group LLC acquired a new stake in shares of Greenidge Generation during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 8.50% of the company’s stock.

Greenidge Generation Company Profile

Greenidge Generation Holdings Inc is an energy and digital asset company that operates a natural gas–fired power plant alongside an on-site Bitcoin mining facility. The company’s primary business activities include generating electricity for the New York power grid and leveraging that generation capacity to support high-performance cryptocurrency mining. Through these complementary operations, Greenidge seeks to optimize power utilization while capitalizing on growing demand for digital assets.

The company’s core power generation assets are located in Dresden, New York, where it repurposed a former coal-fired plant under Atlas Holdings’ ownership and converted it to a combined-cycle natural gas facility.