Short Interest in Greenland Energy Co (NASDAQ:GLND) Increases By 89.0%

Greenland Energy Co (NASDAQ:GLND) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 1,940,724 shares, a growth of 89.0% from the June 15th total of 1,026,681 shares. Based on an average trading volume of 1,326,267 shares, the days-to-cover ratio is presently 1.5 days. Currently, 4.4% of the company’s stock are sold short.

Greenland Energy Trading Down 0.4%

Shares of Greenland Energy stock traded down $0.01 during midday trading on Friday, hitting $2.30. The company had a trading volume of 652,741 shares, compared to its average volume of 1,688,155. The stock has a market capitalization of $100.58 million and a PE ratio of -57.50. The business has a fifty day moving average price of $2.67. Greenland Energy has a 12-month low of $2.03 and a 12-month high of $23.00.

Greenland Energy (NASDAQ:GLND) last released its earnings results on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GLND. ThinkEquity assumed coverage on Greenland Energy in a research note on Monday, June 15th. They issued a “buy” rating on the stock. Wall Street Zen raised shares of Greenland Energy to a “sell” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Insider Activity

In related news, Director Larry G. Swets, Jr. purchased 25,000 shares of Greenland Energy stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $2.79 per share, with a total value of $69,750.00. Following the transaction, the director owned 500,000 shares in the company, valued at approximately $1,395,000. The trade was a 5.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 70,000 shares of company stock valued at $189,050.

About Greenland Energy

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.