Greenland Technologies (NASDAQ:GTEC) Issues Earnings Results

Greenland Technologies (NASDAQ:GTEC) released its earnings results on Thursday. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08, FiscalAI reports. The business had revenue of $24.86 million for the quarter, compared to the consensus estimate of $24.60 million. Greenland Technologies had a return on equity of 17.02% and a net margin of 12.32%.

Greenland Technologies Trading Down 2.3%

Shares of GTEC traded down $0.01 during trading hours on Friday, reaching $0.48. 60,304 shares of the company traded hands, compared to its average volume of 337,408. The stock’s fifty day moving average price is $0.79 and its 200 day moving average price is $0.71. The firm has a market cap of $9.92 million, a price-to-earnings ratio of 0.83 and a beta of 0.28. Greenland Technologies has a 12-month low of $0.42 and a 12-month high of $1.61.

Analyst Ratings Changes

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

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.