Greenidge Generation (NASDAQ:GREE) Stock Price Down 1.4% – Should You Sell?

Greenidge Generation Holdings Inc. (NASDAQ:GREE) traded down 1.4% on Wednesday . The stock traded as low as $1.38 and last traded at $1.44. 127,188 shares traded hands during trading, a decline of 17% from the average session volume of 153,551 shares. The stock had previously closed at $1.46.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GREE shares. Wall Street Zen raised Greenidge Generation from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Greenidge Generation in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Greenidge Generation Trading Down 1.4%

The firm has a market capitalization of $22.75 million, a price-to-earnings ratio of 18.00 and a beta of 3.23. The firm has a 50 day moving average price of $1.57 and a two-hundred day moving average price of $1.64.

Greenidge Generation (NASDAQ:GREE) last issued its earnings results on Thursday, November 13th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $1.22. The business had revenue of $26.87 million during the quarter, compared to analysts’ expectations of $14.00 million.

Institutional Investors Weigh In On Greenidge Generation

A number of large investors have recently modified their holdings of the stock. GSA Capital Partners LLP lifted its position in Greenidge Generation by 14.3% during the 3rd quarter. GSA Capital Partners LLP now owns 135,437 shares of the company’s stock worth $246,000 after acquiring an additional 16,914 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Greenidge Generation during the second quarter worth $41,000. Finally, Jane Street Group LLC lifted its position in shares of Greenidge Generation by 448.8% during the second quarter. Jane Street Group LLC now owns 60,992 shares of the company’s stock worth $79,000 after purchasing an additional 49,878 shares in the last quarter. 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.