Greenland Mines Ltd. Common Stock (NASDAQ:GRML) Stock Price Down 8.7% – Time to Sell?

Greenland Mines Ltd. Common Stock (NASDAQ:GRML)’s stock price dropped 8.7% during trading on Thursday. The stock traded as low as $3.54 and last traded at $3.57. 754,271 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,331,831 shares. The stock had previously closed at $3.91.

Analyst Upgrades and Downgrades

GRML has been the topic of several analyst reports. Weiss Ratings downgraded Greenland Mines Ltd. Common Stock from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Wall Street Zen upgraded Greenland Mines Ltd. Common Stock to a “sell” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Greenland Mines Ltd. Common Stock Price Performance

The stock has a fifty day simple moving average of $6.25 and a 200-day simple moving average of $14.53. The company has a market capitalization of $48.87 million, a price-to-earnings ratio of -0.31 and a beta of 6.56.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML) last issued its quarterly earnings data on Monday, August 17th. The company reported ($0.03) EPS for the quarter.

Greenland Mines Ltd. Common Stock declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 6th that permits the company to repurchase $20 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 20.4% of its shares through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CFO Jeff Leblanc bought 14,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average cost of $9.72 per share, with a total value of $136,080.00. Following the purchase, the chief financial officer directly owned 110,406 shares in the company, valued at $1,073,146.32. The trade was a 14.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Riad Hussein El-Dada sold 3,500 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $9.35, for a total value of $32,725.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 11.30% of the company’s stock.

Institutional Trading of Greenland Mines Ltd. Common Stock

An institutional investor recently bought a new stake in Greenland Mines Ltd. Common Stock stock. State Street Corp acquired a new stake in Greenland Mines Ltd. Common Stock (NASDAQ:GRML) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 302,500 shares of the company’s stock, valued at approximately $79,000. State Street Corp owned approximately 9.51% of Greenland Mines Ltd. Common Stock at the end of the most recent reporting period. Institutional investors and hedge funds own 20.07% of the company’s stock.

About Greenland Mines Ltd. Common Stock

Klotho Neurosciences, Inc, a biopharmaceutical company, develops therapies for neurological and age-related disorders, and specialty diagnostics. Its products include cell and gene therapies to mitigate age-related pathologies, such as dementia symptoms, and Alzheimer and neuromuscular diseases; biologics/biosimilars in the treatment of cancer; and melanocortin receptors. The company has a strategic partnership with Japan’s Okinawa Research Center for the research and development of Klotho gene therapy in enhancing longevity and reducing age-related diseases.