Greenland Technologies Holding Corporation (NASDAQ:GTEC) Sees Significant Drop in Short Interest

Greenland Technologies Holding Corporation (NASDAQ:GTEC) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 34,494 shares, a decline of 75.1% from the September 30th total of 138,389 shares. Based on an average daily trading volume, of 233,891 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.3% of the company’s shares are short sold.

Greenland Technologies Stock Up 2.9%

Shares of NASDAQ:GTEC traded up $0.02 during trading on Thursday, hitting $0.68. The stock had a trading volume of 126,033 shares, compared to its average volume of 180,303. The company has a market capitalization of $13.96 million, a PE ratio of 1.14 and a beta of 0.22. The firm’s fifty day moving average is $0.87 and its 200 day moving average is $0.75. Greenland Technologies has a 12 month low of $0.47 and a 12 month high of $1.61.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings results on Friday, August 14th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $29.88 million for the quarter, compared to analyst estimates of $22.80 million. Greenland Technologies had a return on equity of 17.02% and a net margin of 12.32%. Equities research analysts expect that Greenland Technologies will post 0.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Greenland Technologies has a consensus rating of “Sell”.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation (NASDAQ:GTEC) develops and manufactures electric industrial vehicles and drivetrain systems for material-handling and other heavy-equipment applications. The company’s products are designed for use in settings such as warehouses, distribution facilities, construction sites, industrial operations and other commercial environments.

Through its HEVI brand, Greenland Technologies offers electric vehicles and equipment, including electric forklifts, loaders, excavators and other utility vehicles.