Short Interest in Greenland Technologies Holding Co. (NASDAQ:GTEC) Increases By 5,464.9%

Greenland Technologies Holding Co. (NASDAQ:GTEC) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 205,900 shares, an increase of 5,464.9% from the August 15th total of 3,700 shares. Based on an average daily volume of 685,200 shares, the days-to-cover ratio is currently 0.3 days. Currently, 2.9% of the shares of the stock are sold short.

Greenland Technologies Price Performance

GTEC stock opened at $2.63 on Friday. The firm has a 50 day simple moving average of $1.83 and a two-hundred day simple moving average of $1.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.60 and a quick ratio of 1.28. The stock has a market cap of $35.75 million, a PE ratio of -2.33 and a beta of 1.46. Greenland Technologies has a one year low of $1.36 and a one year high of $4.23.

Greenland Technologies (NASDAQ:GTEC) last announced its earnings results on Wednesday, August 14th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.17. Greenland Technologies had a negative net margin of 13.91% and a negative return on equity of 24.95%. The company had revenue of $23.02 million during the quarter, compared to analyst estimates of $24.00 million. On average, analysts predict that Greenland Technologies will post 0.73 EPS for the current fiscal year.

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.