Greenland Technologies Holding Corporation [NASDAQ: GTEC] stock went on an upward path that rose over 56.65% on Wednesday, amounting to a one-week price increase of more than 62.28%. The company report on August 23, 2023 at 9:25 AM that New Industries For Electrification: HEVI’s Portfolio Of Electric Vehicles Could See Applications In A Range Of Underelectrified Industries.
Greenland Technologies Holding Corporation (NASDAQ:GTEC) is bringing electrification to the heavy equipment industry under its brand HEVI Corp.
“I wanted to take my team’s expertise and contribute toward the overall social benefits of supplying clean and alternative technologies,” said Raymond Wang, founder and CEO of HEVI. “I do not see another solid player coming into the market for the next five to seven years.”.
Over the last 12 months, GTEC stock dropped by -20.29%. The one-year Greenland Technologies Holding Corporation stock forecast points to a potential upside of 71.47. The average equity rating for GTEC stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $34.90 million, with 12.98 million shares outstanding and 6.11 million shares in the current float. Compared to the average trading volume of 36.73K shares, GTEC stock reached a trading volume of 2562696 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Greenland Technologies Holding Corporation [GTEC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GTEC shares is $9.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GTEC stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Aegis Capital have made an estimate for Greenland Technologies Holding Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 13, 2021.
The Average True Range (ATR) for Greenland Technologies Holding Corporation is set at 0.15, with the Price to Sales ratio for GTEC stock in the period of the last 12 months amounting to 0.40. The Price to Book ratio for the last quarter was 0.49, with the Price to Cash per share for the same quarter was set at 1.62. Price to Free Cash Flow for GTEC in the course of the last twelve months was 4.06 with Quick ratio for the last quarter at 1.70.
GTEC Stock Performance Analysis:
Greenland Technologies Holding Corporation [GTEC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 62.28. With this latest performance, GTEC shares gained by 64.24% in over the last four-week period, additionally plugging by 24.31% over the last 6 months – not to mention a drop of -20.29% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GTEC stock in for the last two-week period is set at 88.61, with the RSI for the last a single of trading hit 92.97, and the three-weeks RSI is set at 84.00 for Greenland Technologies Holding Corporation [GTEC]. The present Moving Average for the last 50 days of trading for this stock 1.6900, while it was recorded at 1.9100 for the last single week of trading, and 1.8800 for the last 200 days.
Insight into Greenland Technologies Holding Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Greenland Technologies Holding Corporation [GTEC] shares currently have an operating margin of +6.56 and a Gross Margin at +20.77. Greenland Technologies Holding Corporation’s Net Margin is presently recorded at +3.92.
Return on Total Capital for GTEC is now 4.66, given the latest momentum, and Return on Invested Capital for the company is 5.25. Return on Equity for this stock inclined to 5.33, with Return on Assets sitting at 2.24. When it comes to the capital structure of this company, Greenland Technologies Holding Corporation [GTEC] has a Total Debt to Total Equity ratio set at 58.34. Additionally, GTEC Total Debt to Total Capital is recorded at 36.84, with Total Debt to Total Assets ending up at 26.78. Long-Term Debt to Equity for the company is recorded at 3.06, with the Long-Term Debt to Total Capital now at 1.93.
Reflecting on the efficiency of the workforce at the company, Greenland Technologies Holding Corporation [GTEC] managed to generate an average of $10,787 per employee. Receivables Turnover for the company is 1.05 with a Total Asset Turnover recorded at a value of 0.57.Greenland Technologies Holding Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.00.
Greenland Technologies Holding Corporation [GTEC] Institutonal Ownership Details
The top three institutional holders of GTEC stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in GTEC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in GTEC stock with ownership which is approximately 5.7381%.