Greenland Technologies Holding Corporation (NASDAQ:GTEC) Shares Shorted: Short Interest Up 258.7% in October

Greenland Technologies Holding Corporation (NASDAQ:GTEC) was the target of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 123,727 shares, an increase of 258.7% from the October 15th total of 34,494 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 111,661 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

GTEC has been the topic of several research analyst reports. Weiss Ratings downgraded Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Wall Street Zen raised shares of Greenland Technologies to a “buy” rating in a report on Saturday, November 7th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, Greenland Technologies has an average rating of “Sell”.

Greenland Technologies Stock Up 0.2%

Shares of NASDAQ GTEC traded up $0.00 during trading on Thursday, hitting $0.50. The company had a trading volume of 1,093,148 shares, compared to its average volume of 338,638. The stock has a fifty day simple moving average of $0.80 and a two-hundred day simple moving average of $0.72. Greenland Technologies has a fifty-two week low of $0.42 and a fifty-two week high of $1.61. The firm has a market capitalization of $10.33 million, a price-to-earnings ratio of 0.87 and a beta of 0.28.

Greenland Technologies (NASDAQ:GTEC) last released its quarterly earnings results on Thursday, November 12th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. The firm had revenue of $24.86 million during the quarter, compared to the consensus estimate of $24.60 million. Greenland Technologies had a net margin of 12.32% and a return on equity of 17.02%. On average, analysts anticipate that Greenland Technologies will post 0.59 earnings per share for the current year.

About Greenland Technologies

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.