Greenland Technologies (NASDAQ:GTEC) Lowered to “Hold” Rating by Wall Street Zen

Greenland Technologies (NASDAQ:GTEC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Weiss Ratings cut shares of Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Greenland Technologies Trading Down 2.7%

Shares of Greenland Technologies stock opened at $0.66 on Tuesday. The stock has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.02. The company has a market capitalization of $12.62 million, a P/E ratio of 2.14 and a beta of 0.06. Greenland Technologies has a 12-month low of $0.58 and a 12-month high of $2.47.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.22). Greenland Technologies had a net margin of 5.44% and a return on equity of 7.66%. The firm had revenue of $23.90 million for the quarter, compared to the consensus estimate of $20.15 million. On average, analysts predict that Greenland Technologies will post 0.49 EPS for the current year.

Hedge Funds Weigh In On Greenland Technologies

A number of institutional investors have recently added to or reduced their stakes in GTEC. Mariner LLC grew its holdings in shares of Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after purchasing an additional 20,000 shares in the last quarter. Centiva Capital LP bought a new position in Greenland Technologies during the 3rd quarter worth approximately $29,000. Citadel Advisors LLC purchased a new position in shares of Greenland Technologies in the third quarter worth $31,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Greenland Technologies in the third quarter valued at about $34,000. 10.89% of the stock is currently owned by institutional investors.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a China-based designer and manufacturer of clean energy solutions specializing in biomass resource utilization. The company develops and produces pellet fuel production lines, biomass boilers, pellet stoves and turnkey systems for sustainable heat and power generation. Its product portfolio also includes industrial‐scale pelletizers, dryers, combustion equipment and control systems optimized for agricultural and forestry residues.

Beyond equipment supply, Greenland Technologies provides engineering, procurement and construction (EPC) services, along with installation, commissioning and maintenance support for biomass energy facilities.