Greenidge Generation (NASDAQ:GREE) Issues Earnings Results

Greenidge Generation (NASDAQ:GREE) posted its quarterly earnings data on Friday. The company reported ($0.29) EPS for the quarter, FiscalAI reports. The firm had revenue of $20.84 million during the quarter. Greenidge Generation had a negative return on equity of 9.83% and a net margin of 8.99%.

Greenidge Generation Stock Performance

Shares of Greenidge Generation stock traded up $0.02 during midday trading on Friday, reaching $1.47. 391,695 shares of the company’s stock traded hands, compared to its average volume of 175,624. The company has a market cap of $23.86 million, a price-to-earnings ratio of 3.87 and a beta of 2.98. The company’s 50 day simple moving average is $1.24 and its 200 day simple moving average is $1.41. Greenidge Generation has a 52 week low of $1.00 and a 52 week high of $2.42.

Analyst Ratings Changes

GREE has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Greenidge Generation in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Greenidge Generation from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Greenidge Generation in the 4th quarter worth $37,000. XTX Topco Ltd bought a new position in Greenidge Generation in the 2nd quarter worth $41,000. Jane Street Group LLC bought a new position in Greenidge Generation in the 4th quarter worth $65,000. Renaissance Technologies LLC raised its holdings in Greenidge Generation by 275.2% in the 4th quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock worth $114,000 after acquiring an additional 56,700 shares during the period. Finally, State Street Corp raised its holdings in Greenidge Generation by 19.1% in the 4th quarter. State Street Corp now owns 79,050 shares of the company’s stock worth $117,000 after acquiring an additional 12,700 shares during the period. Institutional investors own 8.50% of the company’s stock.

Greenidge Generation Company Profile

Greenidge Generation Holdings Inc is an energy and digital asset company that operates a natural gas–fired power plant alongside an on-site Bitcoin mining facility. The company’s primary business activities include generating electricity for the New York power grid and leveraging that generation capacity to support high-performance cryptocurrency mining. Through these complementary operations, Greenidge seeks to optimize power utilization while capitalizing on growing demand for digital assets.

The company’s core power generation assets are located in Dresden, New York, where it repurposed a former coal-fired plant under Atlas Holdings’ ownership and converted it to a combined-cycle natural gas facility.