Look For Institutional Buying In Greenland Technologies Holding Corp (NASDAQ: GTEC)

Greenland Technologies Holding Corp (GTEC) concluded trading on Thursday ata closing price of $1.62, with 2.93 million shares of worth about $4.74 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -55.49% during that period and on August 15, 2024 the price saw a gain of about 9.46%. Currently the company’s common shares owned by public are about 13.59M shares, out of which, 7.18M shares are available for trading.

Stock saw a price change of 13.29% in past 5 days and over the past one month there was a price change of -12.67%. Year-to-date (YTD), GTEC shares are showing a performance of -41.94% which increased to 0.62% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.36 but also hit the highest price of $5.25 during that period. The average intraday trading volume for Greenland Technologies Holding Corp shares is 44.28K. The stock is currently trading 2.50% above its 20-day simple moving average (SMA20), while that difference is up 5.60% for SMA50 and it goes to -29.14% lower than SMA200.

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Greenland Technologies Holding Corp (NASDAQ: GTEC) currently have 13.59M outstanding shares and institutions hold larger chunk of about 10.51% of that.

The stock has a current market capitalization of $22.02M and its 3Y-monthly beta is at 1.45. It has posted earnings per share of -$1.08 in the same period. It has Quick Ratio of 0.98 while making debt-to-equity ratio of 0.91. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GTEC, volatility over the week remained 4.88% while standing at 6.74% over the month.

Stock’s fiscal year EPS is expected to rise by 122.50% while it is estimated to increase by 11.11% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Aegis Capital on May 13, 2021 offering a Buy rating for the stock and assigned a target price of $14 to it.

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