Greenidge Generation (NASDAQ:GREE) Cut to Hold at Wall Street Zen

Greenidge Generation (NASDAQ:GREE) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Greenidge Generation in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Greenidge Generation Trading Up 21.8%

NASDAQ:GREE opened at $1.51 on Friday. The stock has a market capitalization of $23.86 million, a P/E ratio of 18.88 and a beta of 3.22. Greenidge Generation has a 1 year low of $0.58 and a 1 year high of $2.42. The firm has a 50 day moving average of $1.38 and a 200-day moving average of $1.55.

Institutional Trading of Greenidge Generation

Several institutional investors and hedge funds have recently made changes to their positions in GREE. XTX Topco Ltd boosted 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 worth $54,000 after purchasing an additional 10,161 shares during the last quarter. Jane Street Group LLC grew its stake 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 during the period. State Street Corp increased its holdings 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 purchasing an additional 12,700 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Greenidge Generation by 275.2% in the fourth quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock valued at $114,000 after buying an additional 56,700 shares during the period. Finally, Virtu Financial LLC acquired a new position in Greenidge Generation in the fourth quarter valued at about $37,000. Institutional investors 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.