Greenland Technologies (NASDAQ:GTEC) Posts Earnings Results

Greenland Technologies (NASDAQ:GTEC) released its earnings results on Wednesday. The company reported $0.23 earnings per share (EPS) for the quarter, FiscalAI reports. Greenland Technologies had a net margin of 5.44% and a return on equity of 7.66%. The firm had revenue of $25.54 million during the quarter.

Greenland Technologies Trading Down 2.3%

NASDAQ:GTEC opened at $0.55 on Thursday. The company has a 50 day simple moving average of $0.70 and a two-hundred day simple moving average of $0.89. The company has a market cap of $10.41 million, a PE ratio of 1.77 and a beta of 0.12. Greenland Technologies has a 12 month low of $0.47 and a 12 month high of $2.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GTEC. Mariner LLC increased its stake in shares of Greenland Technologies by 97.1% in the 4th quarter. Mariner LLC now owns 40,596 shares of the company’s stock worth $25,000 after purchasing an additional 20,000 shares in the last quarter. Centiva Capital LP purchased a new position in Greenland Technologies during the third quarter valued at $29,000. Citadel Advisors LLC bought a new stake in Greenland Technologies during the third quarter valued at about $31,000. Finally, GSA Capital Partners LLP purchased a new stake in Greenland Technologies in the third quarter worth about $34,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GTEC shares. Wall Street Zen cut Greenland Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings lowered Greenland Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Greenland Technologies has a consensus rating of “Sell”.

About Greenland Technologies

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.