Short Interest in Greenland Energy Co (NASDAQ:GLND) Drops By 42.9%

Greenland Energy Co (NASDAQ:GLND) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 1,714,976 shares, a drop of 42.9% from the August 15th total of 3,003,460 shares. Based on an average trading volume of 777,208 shares, the short-interest ratio is currently 2.2 days. Currently, 3.9% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, Director Larry G. Swets, Jr. bought 15,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was purchased at an average price of $2.56 per share, for a total transaction of $38,400.00. Following the transaction, the director owned 585,000 shares in the company, valued at approximately $1,497,600. This trade represents a 2.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Trading of Greenland Energy

Several hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in shares of Greenland Energy during the second quarter worth approximately $41,000. Resolute Advisors LLC acquired a new position in shares of Greenland Energy in the 2nd quarter valued at $163,000. PEAK6 LLC bought a new stake in shares of Greenland Energy in the second quarter worth about $143,000. Finally, NewEdge Wealth LLC bought a new position in Greenland Energy in the second quarter valued at approximately $33,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GLND shares. Weiss Ratings raised Greenland Energy from a “sell (e)” rating to a “sell (d-)” rating in a report on Tuesday, September 1st. ThinkEquity began coverage on Greenland Energy in a research note on Monday, June 15th. They issued a “buy” rating for the company. Finally, Wall Street Zen cut Greenland Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Greenland Energy Stock Performance

NASDAQ GLND remained flat at $1.20 during trading on Wednesday. The company’s stock had a trading volume of 158,132 shares, compared to its average volume of 581,522. Greenland Energy has a 52 week low of $1.09 and a 52 week high of $23.00. The stock’s 50 day moving average is $1.73. The stock has a market cap of $52.48 million, a price-to-earnings ratio of -7.06 and a beta of -2.64.

Greenland Energy (NASDAQ:GLND) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Greenland Energy Company Profile

Greenland Energy Company operates as an early-stage oil and gas exploration company. It focuses on the Jameson Land Basin in East Greenland. The company is based in Denver, Colorado.