Greenland Technologies (NASDAQ:GTEC) Stock Price Down 3.8% – Here’s Why

Greenland Technologies Holding Corporation (NASDAQ:GTEC)’s share price fell 3.8% on Thursday . The company traded as low as $0.52 and last traded at $0.5250. 62,220 shares were traded during mid-day trading, an increase of 3% from the average session volume of 60,129 shares. The stock had previously closed at $0.5460.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GTEC. Wall Street Zen cut Greenland Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Greenland Technologies in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Greenland Technologies Stock Performance

The company has a market cap of $10.78 million, a price-to-earnings ratio of 2.10 and a beta of 0.13. The firm’s 50 day simple moving average is $0.59 and its 200-day simple moving average is $0.73.

Greenland Technologies (NASDAQ:GTEC) last issued its earnings results on Wednesday, May 13th. The company reported $0.23 EPS for the quarter. The business had revenue of $25.54 million during the quarter. Greenland Technologies had a net margin of 6.27% and a return on equity of 8.54%. As a group, sell-side analysts expect that Greenland Technologies Holding Corporation will post 0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GTEC. Mariner LLC grew its position in shares of Greenland Technologies by 97.1% in the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock valued at $25,000 after purchasing an additional 20,000 shares in the last quarter. Citadel Advisors LLC purchased a new position in Greenland Technologies during the third quarter worth approximately $31,000. Finally, Centiva Capital LP acquired a new position in Greenland Technologies during the third quarter worth $29,000. 10.89% of the stock is owned by hedge funds and other institutional investors.

About Greenland Technologies

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a China-based designer and manufacturer of clean energy solutions specializing in biomass resource utilization. The company develops and produces pellet fuel production lines, biomass boilers, pellet stoves and turnkey systems for sustainable heat and power generation. Its product portfolio also includes industrial‐scale pelletizers, dryers, combustion equipment and control systems optimized for agricultural and forestry residues.

Beyond equipment supply, Greenland Technologies provides engineering, procurement and construction (EPC) services, along with installation, commissioning and maintenance support for biomass energy facilities.