Greenland Technologies Holding Corporation (NASDAQ: GTEC) stock jumped 8.53% on Monday to $4.07 against a previous-day closing price of $3.75. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.2 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $4.2250 whereas the lowest price it dropped to was $3.7600. The 52-week range on GTEC shows that it touched its highest point at $5.25 and its lowest point at $1.13 during that stretch. It currently has a 1-year price target of $9.50. Beta for the stock currently stands at 1.30.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GTEC was up-trending over the past week, with a rise of 4.63%, but this was up by 166.01% over a month. Three-month performance surged to 123.63% while six-month performance rose 128.65%. The stock gained 24.09% in the past year, while it has gained 86.70% so far this year. A look at the trailing 12-month EPS for GTEC yields 0.32 with Next year EPS estimates of 0.34. For the next quarter, that number is 0.06. This implies an EPS growth rate of -48.20% for this year and -11.84% for next year.
Float and Shares Shorts:
At present, 12.98 million GTEC shares are outstanding with a float of 6.11 million shares on hand for trading. On Aug 30, 2023, short shares totaled 45260.0, which was 0.35% higher than short shares on Jul 30, 2023. In addition to Mr. Peter Zuguang Wang as the firm’s Founder & Chairman, Mr. Raymond Z. Wang serves as its CEO & Pres.
Institutional Ownership:
Through their ownership of 5.03% of GTEC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 52.92% of GTEC, in contrast to 2.65% held by mutual funds. Shares owned by individuals account for 0.11%. As the largest shareholder in GTEC with 1.96% of the stake, Wells Fargo Clearing Services LLC holds 254,252 shares worth 254,252. A second-largest stockholder of GTEC, Millennium Management LLC, holds 46,646 shares, controlling over 0.36% of the firm’s shares. Walleye Capital LLC is the third largest shareholder in GTEC, holding 36,668 shares or 0.28% stake. With a 0.11% stake in GTEC, the Fidelity Nasdaq Composite Index F is the largest stakeholder. A total of 13,703 shares are owned by the mutual fund manager.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, GTEC reported revenue of $20.60M and operating income of $2.21M. The EBITDA in the recently reported quarter was $3.31M and diluted EPS was $0.13.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GTEC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GTEC analysts setting a high price target of $13.00 and a low target of $6.00, the average target price over the next 12 months is $9.50. Based on these targets, GTEC could surge 219.41% to reach the target high and rise by 47.42% to reach the target low. Reaching the average price target will result in a growth of 133.42% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GTEC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 1 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 66,500 while 0 shares were sold.
