Greenland Technologies Holding Co. (NASDAQ:GTEC) Sees Large Drop in Short Interest

Greenland Technologies Holding Co. (NASDAQ:GTEC) was the recipient of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 41,300 shares, a decrease of 53.9% from the January 31st total of 89,500 shares. Based on an average daily volume of 187,000 shares, the short-interest ratio is currently 0.2 days. Approximately 0.6% of the shares of the company are sold short.

Hedge Funds Weigh In On Greenland Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP grew its stake in shares of Greenland Technologies by 30.9% during the fourth quarter. Two Sigma Investments LP now owns 118,601 shares of the company’s stock worth $230,000 after acquiring an additional 28,009 shares during the last quarter. Northern Trust Corp boosted its position in Greenland Technologies by 103.7% in the fourth quarter. Northern Trust Corp now owns 53,101 shares of the company’s stock valued at $103,000 after buying an additional 27,035 shares during the last quarter. Millennium Management LLC boosted its position in Greenland Technologies by 138.3% in the fourth quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock valued at $96,000 after buying an additional 28,824 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Greenland Technologies in the fourth quarter valued at approximately $60,000. Finally, Two Sigma Advisers LP purchased a new stake in Greenland Technologies in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Greenland Technologies Price Performance

GTEC traded down $0.33 during trading on Friday, reaching $1.31. 523,996 shares of the company traded hands, compared to its average volume of 259,716. The firm has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $2.19. Greenland Technologies has a 12-month low of $1.26 and a 12-month high of $3.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.31 and a current ratio of 1.68. The company has a market cap of $17.81 million, a P/E ratio of -1.38 and a beta of 1.48.

Greenland Technologies Company Profile

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.