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What Is So Great About Greenidge Generation Holdings Inc. (GREE)?

Greenidge Generation Holdings Inc. (NASDAQ:GREE) has seen 1.61 million shares traded in the last trading session. The company, currently valued at $41.86M, closed the last trade at $0.98 per share which meant it gained $0.05 on the day or 6.27% during that session. The GREE stock price is -1343.88% off its 52-week high price of $14.15 and 77.55% above the 52-week low of $0.22. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.09 million shares traded. The 3-month trading volume is 1.24 million shares.

The consensus among analysts is that Greenidge Generation Holdings Inc. (GREE) is a Buy stock at the moment, with a recommendation rating of 2.50. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 1 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.5.

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Greenidge Generation Holdings Inc. (NASDAQ:GREE) trade information

Sporting 6.27% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the GREE stock price touched $0.98 or saw a rise of 14.78%. Year-to-date, Greenidge Generation Holdings Inc. shares have moved 240.68%, while the 5-day performance has seen it change -7.08%. Over the past 30 days, the shares of Greenidge Generation Holdings Inc. (NASDAQ:GREE) have changed 226.99%. Short interest in the company has seen 2.24 million shares shorted with days to cover at 7.28.

Wall Street analysts have a consensus price target for the stock at $4.00, which means that the shares’ value could jump 75.5% from current levels. The projected low price target is $4.00 while the price target rests at a high of $4.00. In that case, then, we find that the current price level is -308.16% off the targeted high while a plunge would see the stock gain -308.16% from current levels.

Greenidge Generation Holdings Inc. (GREE) estimates and forecasts

Figures show that Greenidge Generation Holdings Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -66.95% over the past 6 months, with this year growth rate of -490.59%, compared to 12.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -78.60% and -766.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 17.20%.

1 analysts offering their estimates for the company have set an average revenue estimate of $29 million for the current quarter. 1 have an estimated revenue figure of $27.7 million for the next quarter concluding in Dec 2022. Year-ago sales stood $35.75 million and $44.28 million respectively for this quarter and the next, and analysts expect sales will shrink by -18.90% for the current quarter and -37.40% for the next.

GREE Dividends

Greenidge Generation Holdings Inc. is expected to release its next earnings report between August 11 and August 15 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Greenidge Generation Holdings Inc. (NASDAQ:GREE)’s Major holders

Insiders own 3.80% of the company shares, while shares held by institutions stand at 51.62% with a share float percentage of 53.66%. Investors are also buoyed by the number of investors in a company, with Greenidge Generation Holdings Inc. having a total of 43 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 0.61 million shares worth more than $1.56 million. As of Jun 29, 2022, Blackrock Inc. held 4.25% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 0.49 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.25 million and represent 3.40% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Exchange Traded Concepts Tr-Bitwise Crypto Industry Innovators ETF. As of Jun 29, 2022, the former fund manager holds about 2.04% shares in the company for having 0.29 million shares of worth $0.75 million while later fund manager owns 0.22 million shares of worth $0.55 million as of Jun 29, 2022, which makes it owner of about 1.50% of company’s outstanding stock.

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