price up icon5.84%   +0.09
after-market  After Hours:  1.63 

Why is Greenland Technologies Holding Corp (GTEC) Stock down?

We've noticed a 6.53% decline in Greenland Technologies Holding Corp (GTEC) stock during the 2024-05-13 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
20 Nov, 2023:

Greenland Technologies Holding Corp Stock (GTEC) dropped by 14.37% from $3.34 to $2.86 in the trading on Monday November 20, 2023. The reasons why GTEC stock down today is due to the missed Q3 FY23 results. Jing Jin, Chief Financial Officer of Greenland, cited the results to the continued adverse impact on the business of logistical and supply chain challenges.

  • Revenue of $21.84 million missed the consensus estimate of $24.27 million. For the first nine months of 2023, GTEC sold 112,414 sets of transmission products vs. 102,144 the prior year.
  • EPS loss of $(0.07), missing the analyst consensus of EPS of $0.06. As of September 30, 2023, Greenland had cash and cash equivalents worth around $21.54 million.
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