Short Interest in Greenland Energy Co (NASDAQ:GLND) Drops By 42.9%
by Jessica Moore · The Cerbat GemGreenland Energy Co (NASDAQ:GLND – Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 1,714,976 shares, a drop of 42.9% from the August 15th total of 3,003,460 shares. Based on an average trading volume of 777,208 shares, the short-interest ratio is currently 2.2 days. Currently, 3.9% of the shares of the company are sold short.
Insiders Place Their Bets
In other news, Director Larry G. Swets, Jr. bought 15,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was purchased at an average price of $2.56 per share, for a total transaction of $38,400.00. Following the transaction, the director owned 585,000 shares in the company, valued at approximately $1,497,600. This trade represents a 2.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.
Institutional Trading of Greenland Energy
Several hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in shares of Greenland Energy during the second quarter worth approximately $41,000. Resolute Advisors LLC acquired a new position in shares of Greenland Energy in the 2nd quarter valued at $163,000. PEAK6 LLC bought a new stake in shares of Greenland Energy in the second quarter worth about $143,000. Finally, NewEdge Wealth LLC bought a new position in Greenland Energy in the second quarter valued at approximately $33,000.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on GLND shares. Weiss Ratings raised Greenland Energy from a “sell (e)” rating to a “sell (d-)” rating in a report on Tuesday, September 1st. ThinkEquity began coverage on Greenland Energy in a research note on Monday, June 15th. They issued a “buy” rating for the company. Finally, Wall Street Zen cut Greenland Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.
Get Our Latest Stock Report on Greenland Energy
Greenland Energy Stock Performance
NASDAQ GLND remained flat at $1.20 during trading on Wednesday. The company’s stock had a trading volume of 158,132 shares, compared to its average volume of 581,522. Greenland Energy has a 52 week low of $1.09 and a 52 week high of $23.00. The stock’s 50 day moving average is $1.73. The stock has a market cap of $52.48 million, a price-to-earnings ratio of -7.06 and a beta of -2.64.
Greenland Energy (NASDAQ:GLND – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.13) earnings per share (EPS) for the quarter.
Greenland Energy Company Profile
Greenland Energy Company operates as an early-stage oil and gas exploration company. It focuses on the Jameson Land Basin in East Greenland. The company is based in Denver, Colorado.