Greenidge Generation Holdings Inc (NASDAQ: GREE) has experienced a decline in its stock price by -5.85 compared to its previous closing price of 1.88. However, the company has seen a fall of -5.35% in its stock price over the last five trading days. businesswire.com reported 2024-05-01 that DRESDEN, N.Y.–(BUSINESS WIRE)–Greenidge Generation Holdings Inc. (NASDAQ: GREE) (“Greenidge”), a vertically integrated cryptocurrency datacenter and power generation company, today announced preliminary financial and operating results for the first quarter of 2024. The Company also highlighted CEO Jordan Kovler’s presentation at the Planet MicroCap Showcase: Vegas 2024 taking place today, May 1, 2024, at 4:00 pm PST, which may be attended and accessed live along with the accompanying presenta.
Is It Worth Investing in Greenidge Generation Holdings Inc (NASDAQ: GREE) Right Now?
The stock has a 36-month beta value of 3.11. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for GREE is 7.63M, and at present, short sellers hold a 6.51% of that float. On September 19, 2024, the average trading volume of GREE was 181.01K shares.
GREE’s Market Performance
The stock of Greenidge Generation Holdings Inc (GREE) has seen a -5.35% decrease in the past week, with a -7.33% drop in the past month, and a -41.00% fall in the past quarter. The volatility ratio for the week is 7.14%, and the volatility levels for the past 30 days are at 9.10% for GREE. The simple moving average for the past 20 days is -7.61% for GREE’s stock, with a -47.40% simple moving average for the past 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 25, 2022 of the previous 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 -22.31% 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 -80.89% of loss for the given period.
Volatility was left at 9.10%, however, over the last 30 days, the volatility rate increased by 7.14%, as shares sank -9.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -39.59% lower at present.
During the last 5 trading sessions, GREE fell by -5.35%, which changed the moving average for the period of 200-days by -62.97% in comparison to the 20-day moving average, which settled at $1.9067. In addition, Greenidge Generation Holdings Inc saw -73.62% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GREE starting from Kovler Jordan, who purchase 5,000 shares at the price of $1.72 back on Sep 06 ’24. After this action, Kovler Jordan now owns 68,282 shares of Greenidge Generation Holdings Inc, valued at $8,598 using the latest closing price.
Irwin Dale, the President of Greenidge Generation Holdings Inc, sale 8,777 shares at $2.81 during a trade that took place back on May 28 ’24, which means that Irwin Dale is holding 70,962 shares at $24,639 based on the most recent closing price.
Stock Fundamentals for GREE
Current profitability levels for the company are sitting at:
- -0.23 for the present operating margin
- 0.15 for the gross margin
The net margin for Greenidge Generation Holdings Inc stands at -0.29. The total capital return value is set at -0.35. Equity return is now at value -1371.18, with -25.44 for asset returns.
Based on Greenidge Generation Holdings Inc (GREE), the company’s capital structure generated 4.04 points at debt to capital in total, while cash flow to debt ratio is standing at -0.23. The debt to equity ratio resting at -1.33. The interest coverage ratio of the stock is -1.77.
Currently, EBITDA for the company is -2.7 million with net debt to EBITDA at 57.32. When we switch over and look at the enterprise to sales, we see a ratio of 1.07. The receivables turnover for the company is 69.97for trailing twelve months and the total asset turnover is 1.16. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.22.
Conclusion
To sum up, Greenidge Generation Holdings Inc (GREE) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
