GTEC Stock Summary and Trading Ideas (Greenland Technologies Holding - | NASDAQ:GTEC)

Greenland Technologies Holding Corp is a developer of innovative and quality solutions in the material handling industry. It is a transmission and drivetrain systems provider for material handling equipment such as forklift trucks for industrial and logistic applications. Geographically, the company has its presence in Domestic and International markets and earns majority of the revenue from Domestic Sales.

Greenland Technologies Holding - trades on the NASDAQ stock market under the symbol GTEC.

As of April 15, 2024, GTEC stock price was flat at $1.96 with 50,294 million shares trading.

GTEC has a beta of 2.15, meaning it tends to be more sensitive to market movements. GTEC has a correlation of 0.06 to the broad based SPY ETF.

GTEC has a market cap of $26.65 million. This is considered a Sub-Micro Cap stock.

Last quarter Greenland Technologies Holding - reported $22 million in Revenue and -$.07 earnings per share. This fell short of revenue expectation by $-2 million and missed earnings estimates by -$.12.

In the last 3 years, GTEC stock traded as high as $12.60 and as low as $1.13.

GTEC has outperformed the market in the last year with a return of +27.3%, while the SPY ETF gained +25.3%. However, in the most recent history, GTEC shares have underperformed the stock market with its stock returning -41.3% in the last 3 month period and -11.3% for the last 2 week period, while SPY has returned +6.2% and -3.6%, respectively.

GTEC support price is $1.85 and resistance is $2.08 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GTEC stock will trade within this expected range on the day.