Greenidge Generation (NASDAQ:GREE) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Greenidge Generation (NASDAQ:GREE) from a buy rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Greenidge Generation in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Greenidge Generation Price Performance

Shares of Greenidge Generation stock opened at $1.51 on Friday. Greenidge Generation has a 1 year low of $0.58 and a 1 year high of $2.42. The firm’s 50-day moving average is $1.38 and its 200 day moving average is $1.55. The stock has a market cap of $23.86 million, a price-to-earnings ratio of 18.88 and a beta of 3.22.

Institutional Investors Weigh In On Greenidge Generation

A number of institutional investors and hedge funds have recently bought and sold shares of GREE. Renaissance Technologies LLC raised its stake in Greenidge Generation by 275.2% during the 4th quarter. Renaissance Technologies LLC now owns 77,300 shares of the company’s stock valued at $114,000 after purchasing an additional 56,700 shares during the period. Jane Street Group LLC raised its position in shares of Greenidge Generation by 448.8% during the 2nd quarter. Jane Street Group LLC now owns 60,992 shares of the company’s stock valued at $79,000 after buying an additional 49,878 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Greenidge Generation in the 2nd quarter valued at approximately $41,000. Virtu Financial LLC bought a new stake in Greenidge Generation in the fourth quarter worth $37,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Greenidge Generation by 14.3% in the 3rd quarter. GSA Capital Partners LLP now owns 135,437 shares of the company’s stock worth $246,000 after acquiring an additional 16,914 shares during the last quarter. 8.50% of the stock is owned by institutional investors.

About Greenidge Generation

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.