Greenland Energy (NASDAQ:GLND) Trading Up 7% – What’s Next?

Shares of Greenland Energy Co (NASDAQ:GLND) rose 7% on Thursday . The stock traded as high as $1.24 and last traded at $1.23. 589,812 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 990,456 shares. The stock had previously closed at $1.15.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GLND shares. ThinkEquity began coverage on Greenland Energy in a research report on Monday, June 15th. They set a “buy” rating on the stock. Weiss Ratings upgraded Greenland Energy from a “sell (e)” rating to a “sell (d-)” rating in a report on Tuesday, September 1st. Finally, Wall Street Zen downgraded shares of Greenland Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Greenland Energy currently has a consensus rating of “Hold”.

Greenland Energy Price Performance

The company’s 50 day moving average price is $1.78. The stock has a market cap of $53.35 million, a P/E ratio of -7.18 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 for the quarter.

Insider Transactions at Greenland Energy

In other Greenland Energy news, Director Larry G. Swets, Jr. purchased 15,000 shares of Greenland Energy stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $2.56 per share, with a total value of $38,400.00. Following the transaction, the director owned 585,000 shares in the company, valued at $1,497,600. This trade represents a 2.63% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Greenland Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Wealth LLC bought a new position in Greenland Energy in the 2nd quarter valued at about $33,000. Squarepoint Ops LLC purchased a new stake in Greenland Energy in the 2nd quarter valued at $41,000. PEAK6 LLC purchased a new stake in Greenland Energy in the 2nd quarter valued at $143,000. Finally, Resolute Advisors LLC bought a new position in Greenland Energy during the 2nd quarter valued at $163,000.

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.