Greenland Technologies (NASDAQ:GTEC) Lowered to “Hold” Rating by Wall Street Zen

Greenland Technologies (NASDAQ:GTEC) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Greenland Technologies Stock Down 6.6%

Shares of GTEC opened at $1.27 on Friday. Greenland Technologies has a 52 week low of $1.17 and a 52 week high of $2.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.24 and a current ratio of 1.68. The firm has a market capitalization of $22.09 million, a price-to-earnings ratio of 2.12 and a beta of 1.97. The business’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $1.83.

Greenland Technologies (NASDAQ:GTEC) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter. Greenland Technologies had a return on equity of 14.06% and a net margin of 9.43%. The company had revenue of $21.72 million during the quarter. On average, analysts predict that Greenland Technologies will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in Greenland Technologies during the 4th quarter worth $28,000. Walleye Trading LLC acquired a new stake in Greenland Technologies during the 4th quarter worth $33,000. Northern Trust Corp raised its stake in Greenland Technologies by 103.7% during the 4th quarter. Northern Trust Corp now owns 53,101 shares of the company’s stock worth $103,000 after buying an additional 27,035 shares during the period. Two Sigma Investments LP raised its stake in Greenland Technologies by 30.9% during the 4th quarter. Two Sigma Investments LP now owns 118,601 shares of the company’s stock worth $230,000 after buying an additional 28,009 shares during the period. Finally, Millennium Management LLC raised its stake in Greenland Technologies by 138.3% during the 4th quarter. Millennium Management LLC now owns 49,673 shares of the company’s stock worth $96,000 after buying an additional 28,824 shares during the period. 10.89% of the stock is currently owned by institutional investors.

About Greenland Technologies

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.