Greenland Technologies Holding Co. (NASDAQ:GTEC) Short Interest Down 52.5% in March

Greenland Technologies Holding Co. (NASDAQ:GTEC) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 10,400 shares, a decrease of 52.5% from the February 28th total of 21,900 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 189,600 shares, the short-interest ratio is presently 0.1 days.

Greenland Technologies Stock Performance

Shares of GTEC traded down $0.44 during mid-day trading on Friday, hitting $1.73. 1,943,249 shares of the company’s stock were exchanged, compared to its average volume of 626,435. The business’s 50 day moving average is $1.88 and its two-hundred day moving average is $2.11. The company has a current ratio of 1.68, a quick ratio of 1.31 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $23.52 million, a P/E ratio of -1.82 and a beta of 1.49. Greenland Technologies has a fifty-two week low of $1.17 and a fifty-two week high of $2.94.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings results on Wednesday, March 26th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.08 by $0.95. The business had revenue of $19.37 million during the quarter, compared to analysts’ expectations of $19.00 million. Greenland Technologies had a negative return on equity of 23.51% and a negative net margin of 14.16%. During the same quarter in the prior year, the business earned ($1.20) earnings per share. On average, equities analysts expect that Greenland Technologies will post 0.49 earnings per share for the current year.

Institutional Trading of Greenland Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Greenland Technologies in the fourth quarter valued at about $28,000. Walleye Trading LLC acquired a new position in Greenland Technologies during the 4th quarter worth approximately $33,000. Two Sigma Advisers LP purchased a new position in shares of Greenland Technologies during the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets acquired a new stake in shares of Greenland Technologies in the 4th quarter valued at approximately $60,000. Finally, Millennium Management LLC lifted its holdings in shares of 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 buying an additional 28,824 shares during the period. Hedge funds and other institutional investors own 10.89% of the company’s stock.

About Greenland Technologies

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.