Greenidge Generation Holdings Inc. (NASDAQ:GREE) Sees Significant Increase in Short Interest

Greenidge Generation Holdings Inc. (NASDAQ:GREE) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 384,500 shares, an increase of 8.4% from the September 15th total of 354,800 shares. Based on an average trading volume of 156,700 shares, the short-interest ratio is currently 2.5 days. Approximately 5.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, B. Riley decreased their price objective on Greenidge Generation from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, July 12th.

Institutional Trading of Greenidge Generation

An institutional investor recently bought a new position in Greenidge Generation stock. Quadrature Capital Ltd bought a new stake in shares of Greenidge Generation Holdings Inc. (NASDAQ:GREE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 45,080 shares of the company’s stock, valued at approximately $301,000. Quadrature Capital Ltd owned about 0.61% of Greenidge Generation as of its most recent SEC filing. 8.50% of the stock is owned by institutional investors and hedge funds.

Greenidge Generation Stock Performance

GREE stock traded up $0.08 during midday trading on Wednesday, reaching $2.41. 316,924 shares of the company’s stock traded hands, compared to its average volume of 246,471. Greenidge Generation has a 52 week low of $1.62 and a 52 week high of $9.26. The firm’s fifty day moving average price is $1.91 and its 200-day moving average price is $2.50.

Greenidge Generation (NASDAQ:GREE) last posted its earnings results on Wednesday, August 14th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.18). The firm had revenue of $13.06 million for the quarter, compared to the consensus estimate of $16.10 million. Analysts forecast that Greenidge Generation will post -1.81 EPS for the current fiscal year.

About Greenidge Generation

Greenidge Generation Holdings Inc operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenter in New York, as well as hosts, powers, and provides technical support and other related services to bitcoin mining equipment owned by customers.