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Is a Correction Looming Ahead for Greenidge Generation Holdings Inc. (GREE)

Greenidge Generation Holdings Inc. (NASDAQ:GREE) went up by 9.78% from its latest closing price compared to the recent 1-year high of $22.11. The company’s stock price has collected -12.63% of loss in the last five trading sessions.

Is It Worth Investing in Greenidge Generation Holdings Inc. (NASDAQ :GREE) Right Now?

GREE currently public float of 13.79M and currently shorts hold a 18.36% ratio of that float. Today, the average trading volume of GREE was 385.78K shares.

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GREE’s Market Performance

GREE stocks went down by -12.63% for the week, with a monthly drop of -47.04% and a quarterly performance of -78.44%, while its annual performance rate touched -96.88%. The volatility ratio for the week stands at 13.10% while the volatility levels for the past 30 days are set at 12.65% for Greenidge Generation Holdings Inc. The simple moving average for the period of the last 20 days is -23.47% for GREE stocks with a simple moving average of -86.70% for the last 200 days.

Analysts’ Opinion of GREE

Many brokerage firms have already submitted their reports for GREE stocks, with Stifel repeating the rating for GREE by listing it as a “Hold.” The predicted price for GREE in the upcoming period, according to Stifel is $10 based on the research report published on March 25th of the current year 2022.

B. Riley Securities, on the other hand, stated in their research note that they expect to see GREE reach a price target of $78. The rating they have provided for GREE stocks is “Buy” according to the report published on September 29th, 2021.

GREE Trading at -54.20% from the 50-Day Moving Average

After a stumble in the market that brought GREE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -97.27% of loss for the given period.

Volatility was left at 12.65%, however, over the last 30 days, the volatility rate increased by 13.10%, as shares sank -42.50% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -72.05% lower at present.

During the last 5 trading sessions, GREE fell by -12.63%, which changed the moving average for the period of 200-days by -95.24% in comparison to the 20-day moving average, which settled at $0.7667. In addition, Greenidge Generation Holdings Inc. saw -96.24% in overturn over a single year, with a tendency to cut further losses.

Stock Fundamentals for GREE

Equity return is now at value -84.60, with -45.90 for asset returns.

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