Short Interest in Greenland Technologies Holding Co. (NASDAQ:GTEC) Declines By 22.1%

Greenland Technologies Holding Co. (NASDAQ:GTEC) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 164,700 shares, a drop of 22.1% from the October 15th total of 211,300 shares. Based on an average trading volume of 732,900 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.3% of the shares of the company are short sold.

Greenland Technologies Price Performance

Shares of GTEC opened at $2.22 on Friday. The firm has a market cap of $30.19 million, a price-to-earnings ratio of -2.29 and a beta of 1.48. The stock has a 50 day moving average of $2.39 and a 200-day moving average of $1.89. The company has a current ratio of 1.60, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. Greenland Technologies has a 52 week low of $1.36 and a 52 week high of $3.84.

Greenland Technologies (NASDAQ:GTEC) last issued its earnings results on Wednesday, August 14th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.03 by $0.17. The company had revenue of $23.02 million during the quarter, compared to analyst estimates of $24.00 million. Greenland Technologies had a negative return on equity of 24.95% and a negative net margin of 13.91%. As a group, analysts forecast that Greenland Technologies will post 0.57 EPS for the current 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.