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

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

Institutional Investors Weigh In On Greenland Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in Greenland Technologies during the fourth quarter valued at approximately $28,000. Walleye Trading LLC bought a new position in Greenland Technologies in the 4th quarter worth approximately $33,000. Two Sigma Advisers LP bought a new position in Greenland Technologies in the 4th quarter worth approximately $56,000. BNP Paribas Financial Markets bought a new position in Greenland Technologies in the 4th quarter worth approximately $60,000. Finally, Millennium Management LLC grew its holdings in Greenland Technologies by 138.3% in 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 in the last quarter. Hedge funds and other institutional investors own 10.89% of the company’s stock.

Greenland Technologies Price Performance

GTEC stock traded down $0.33 during midday trading on Friday, hitting $1.31. 523,996 shares of the stock were exchanged, compared to its average volume of 259,716. The stock’s 50-day moving average price is $2.09 and its 200-day moving average price is $2.19. The stock has a market cap of $17.81 million, a price-to-earnings ratio of -1.38 and a beta of 1.48. Greenland Technologies has a fifty-two week low of $1.26 and a fifty-two week 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.

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.