Greenland Technologies (NASDAQ:GTEC) Stock Price Down 5.6% – Should You Sell?

by · The Markets Daily

Greenland Technologies Holding Corporation (NASDAQ:GTEC – Get Free Report)’s stock price dropped 5.6% on Thursday . The stock traded as low as $0.9943 and last traded at $1.02. Approximately 361,694 shares traded hands during mid-day trading, an increase of 95% from the average daily volume of 185,184 shares. The stock had previously closed at $1.08.

Analyst Ratings Changes

A number of research analysts recently issued reports on GTEC shares. Wall Street Zen downgraded shares of Greenland Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Greenland Technologies in a report on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Greenland Technologies has an average rating of “Sell”.

Read Our Latest Stock Analysis on Greenland Technologies

Greenland Technologies Trading Down 5.6%

The firm has a market cap of $17.74 million, a price-to-earnings ratio of 1.04 and a beta of 0.11. The firm’s 50-day moving average is $1.14 and its 200-day moving average is $1.50. The company has a current ratio of 1.93, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01.

Greenland Technologies (NASDAQ:GTEC – Get Free Report) last released its quarterly earnings data on Friday, November 7th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. The firm had revenue of $23.40 million for the quarter, compared to the consensus estimate of $23.40 million. Greenland Technologies had a net margin of 16.38% and a return on equity of 20.63%. As a group, sell-side analysts anticipate that Greenland Technologies Holding Corporation will post 0.49 EPS for the current fiscal year.

Institutional Trading of Greenland Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTEC. GSA Capital Partners LLP purchased a new stake in shares of Greenland Technologies in the third quarter worth approximately $34,000. Centiva Capital LP bought a new stake in Greenland Technologies during the third quarter worth $29,000. Finally, Citadel Advisors LLC bought a new stake in Greenland Technologies during the third quarter worth $31,000. 10.89% of the stock is owned by institutional investors.

About Greenland Technologies

(Get Free Report)

Greenland Technologies Holding Corporation designs, develops, manufactures, and sells components and products for material handling industries worldwide. The company offers transmission products, such as transmission systems and integrated powertrain primarily for electric forklift trucks; electric industrial heavy equipment, including electric wheeled front loader, electric excavator, and electric lithium forklifts; and provides charging solutions.

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