Greenland Mines Ltd. Common Stock (NASDAQ:GRML) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Greenland Mines Ltd. Common Stock (NASDAQ:GRML) from a sell rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings cut Greenland Mines Ltd. Common Stock from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Greenland Mines Ltd. Common Stock Price Performance

GRML stock opened at $3.84 on Friday. The company has a market cap of $52.55 million, a price-to-earnings ratio of -0.33 and a beta of 6.56. The company has a fifty day moving average price of $6.22 and a 200 day moving average price of $14.47. Greenland Mines Ltd. Common Stock has a 12 month low of $2.82 and a 12 month high of $36.99.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML) last released its earnings results 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 buyback program on Tuesday, October 6th that allows the company to repurchase $20 million in shares. This buyback authorization allows the company to reacquire up to 20.4% of its stock through open market purchases. Share buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Greenland Mines Ltd. Common Stock

In related news, Director Riad Hussein El-Dada sold 3,500 shares of Greenland Mines Ltd. Common Stock stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $9.35, for a total transaction of $32,725.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeff Leblanc bought 14,000 shares of Greenland Mines Ltd. Common Stock stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $9.72 per share, for a total transaction of $136,080.00. Following the purchase, the chief financial officer owned 110,406 shares in the company, valued at $1,073,146.32. This represents a 14.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On Greenland Mines Ltd. Common Stock

A hedge fund recently bought a new stake in Greenland Mines Ltd. Common Stock stock. State Street Corp acquired a new stake in shares of Greenland Mines Ltd. Common Stock (NASDAQ:GRML) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 302,500 shares of the company’s stock, valued at approximately $79,000. State Street Corp owned about 9.51% of Greenland Mines Ltd. Common Stock as of its most recent SEC filing. 20.07% of the stock is currently owned by institutional investors and hedge funds.

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.