Greenland Technologies (NASDAQ:GTEC) Shares Down 3.8% – Time to Sell?

Greenland Technologies Holding Corporation (NASDAQ:GTEC)’s stock price fell 3.8% during mid-day trading on Thursday . The company traded as low as $0.52 and last traded at $0.5250. 62,220 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 60,129 shares. The stock had previously closed at $0.5460.

Analyst Ratings Changes

GTEC has been the topic of a number of analyst reports. Wall Street Zen cut shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Greenland Technologies in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Greenland Technologies has a consensus rating of “Sell”.

Greenland Technologies Trading Down 3.8%

The company has a market cap of $10.78 million, a price-to-earnings ratio of 2.10 and a beta of 0.13. The business has a fifty day moving average of $0.59 and a two-hundred day moving average of $0.73.

Greenland Technologies (NASDAQ:GTEC) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.23 EPS for the quarter. The company had revenue of $25.54 million for the quarter. Greenland Technologies had a return on equity of 8.54% and a net margin of 6.27%. On average, research analysts forecast that Greenland Technologies Holding Corporation will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Greenland Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC raised its position in Greenland Technologies by 97.1% during the fourth quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after acquiring an additional 20,000 shares during the period. Citadel Advisors LLC purchased a new position in Greenland Technologies during the third quarter valued at $31,000. Finally, Centiva Capital LP acquired a new stake in shares of Greenland Technologies in the third quarter valued at about $29,000. Institutional investors and hedge funds own 10.89% of the company’s stock.

Greenland Technologies Company Profile

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a China-based designer and manufacturer of clean energy solutions specializing in biomass resource utilization. The company develops and produces pellet fuel production lines, biomass boilers, pellet stoves and turnkey systems for sustainable heat and power generation. Its product portfolio also includes industrial‐scale pelletizers, dryers, combustion equipment and control systems optimized for agricultural and forestry residues.

Beyond equipment supply, Greenland Technologies provides engineering, procurement and construction (EPC) services, along with installation, commissioning and maintenance support for biomass energy facilities.