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

Greenland Technologies Holding Co. (NASDAQ:GTEC) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 10,400 shares, a drop of 52.5% from the February 28th total of 21,900 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 189,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Greenland Technologies

Several hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in Greenland Technologies in the fourth quarter worth $60,000. Two Sigma Advisers LP acquired a new position in Greenland Technologies during the 4th quarter valued at about $56,000. Millennium Management LLC grew its position in Greenland Technologies by 138.3% in the 4th quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock worth $96,000 after purchasing an additional 28,824 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Greenland Technologies by 30.9% in the fourth quarter. Two Sigma Investments LP now owns 118,601 shares of the company’s stock valued at $230,000 after purchasing an additional 28,009 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Greenland Technologies by 103.7% during the fourth quarter. Northern Trust Corp now owns 53,101 shares of the company’s stock valued at $103,000 after buying an additional 27,035 shares during the last quarter. Institutional investors own 10.89% of the company’s stock.

Greenland Technologies Stock Down 20.3 %

GTEC stock traded down $0.44 during midday trading on Friday, hitting $1.73. 1,943,249 shares of the company’s stock were exchanged, compared to its average volume of 628,917. The stock has a market capitalization of $23.52 million, a price-to-earnings ratio of -1.82 and a beta of 1.49. 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 50 day moving average price of $1.87 and a 200-day moving average price of $2.10. Greenland Technologies has a 12-month low of $1.17 and a 12-month high of $2.94.

Greenland Technologies (NASDAQ:GTEC) last released its earnings results on Wednesday, March 26th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.37. Greenland Technologies had a negative net margin of 14.16% and a negative return on equity of 23.51%. The firm had revenue of $19.37 million during the quarter, compared to analyst estimates of $19.00 million. During the same quarter in the previous year, the firm earned ($1.20) earnings per share. On average, analysts anticipate that Greenland Technologies will post 0.49 EPS for the current year.

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.