Why Greenland Technologies Holding Corp (NASDAQ: GTEC) Stock Shouldn’t Be Sold In 2024

In the last trading session, 1.7 million Greenland Technologies Holding Corp (NASDAQ:GTEC) shares changed hands as the company’s beta touched 1.42. With the company’s per share price at $2.14 changed hands at -$0.11 or -4.89% during last session, the market valuation stood at $29.08M. GTEC’s last price was a discount, traded about -145.33% off its 52-week high of $5.25. The share price had its 52-week low at $1.36, which suggests the last value was 36.45% up since then. When we look at Greenland Technologies Holding Corp’s average trading volume, we note the 10-day average is 3.9 million shares, with the 3-month average coming to 630.94K.

Greenland Technologies Holding Corp (NASDAQ:GTEC) trade information

Instantly GTEC was in red as seen at the end of in last trading. With action 46.08%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -23.30%, with the 5-day performance at 46.08% in the green. However, in the 30-day time frame, Greenland Technologies Holding Corp (NASDAQ:GTEC) is 26.63% up. Looking at the short shares, we see there were 6580.0 shares sold at short interest cover period of 0.08 days.

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Greenland Technologies Holding Corp (GTEC) estimates and forecasts

Data shows that the Greenland Technologies Holding Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -41.53% over the past 6 months, a 132.50% in annual growth rate that is considerably higher than the industry average of 4.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -148.76%. The 2024 estimates are for Greenland Technologies Holding Corp earnings to increase by 122.50%.

GTEC Dividends

Greenland Technologies Holding Corp is expected to release its next quarterly earnings report in September.

Greenland Technologies Holding Corp (NASDAQ:GTEC)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 47.17% of Greenland Technologies Holding Corp shares while 10.55% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 19.96%. There are 10.55% institutions holding the Greenland Technologies Holding Corp stock share, with LPL FINANCIAL LLC the top institutional holder. As of 2024-03-31, the company held 2.8594% of the shares, roughly 0.38 million GTEC shares worth $0.84 million.

WELLS FARGO & COMPANY/MN holds the second largest percentage of outstanding shares, with 1.9023% or 0.25 million shares worth $0.56 million as of 2024-03-31.