Greenland Technologies (NASDAQ:GTEC) Stock Price Down 7.8% – Should You Sell?

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was down 7.8% during mid-day trading on Monday . The company traded as low as $1.06 and last traded at $1.06. Approximately 132,555 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 146,825 shares. The stock had previously closed at $1.15.

Analyst Ratings Changes

A number of analysts have recently issued reports on GTEC shares. Wall Street Zen cut shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Greenland Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Greenland Technologies Trading Down 7.8%

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.25. The stock has a market cap of $18.43 million, a P/E ratio of 1.77 and a beta of 1.78. The stock’s 50-day moving average is $1.29 and its two-hundred day moving average is $1.66.

Greenland Technologies (NASDAQ:GTEC) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter. The company had revenue of $21.72 million during the quarter. Greenland Technologies had a net margin of 9.43% and a return on equity of 14.06%. Equities research analysts anticipate that Greenland Technologies Holding Corporation will post 0.49 EPS for the current year.

Greenland Technologies Company Profile

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.