B. Riley Cuts Greenidge Generation (NASDAQ:GREE) Price Target to $4.00

Greenidge Generation (NASDAQ:GREE) had its price target cut by B. Riley from $5.00 to $4.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

Greenidge Generation Stock Performance

GREE opened at $2.95 on Friday. Greenidge Generation has a 52 week low of $2.17 and a 52 week high of $9.26. The business has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $3.50.

Greenidge Generation (NASDAQ:GREE) last released its earnings results on Wednesday, May 15th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). The business had revenue of $19.33 million during the quarter, compared to the consensus estimate of $19.20 million. On average, equities analysts forecast that Greenidge Generation will post -1.71 EPS for the current year.

Insiders Place Their Bets

In other Greenidge Generation news, President Dale Irwin sold 25,000 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $2.55, for a total value of $63,750.00. Following the completion of the transaction, the president now owns 79,739 shares in the company, valued at $203,334.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 40.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Greenidge Generation

A hedge fund recently bought a new stake in Greenidge Generation stock. Tower Research Capital LLC TRC acquired a new stake in Greenidge Generation Holdings Inc. (NASDAQ:GREE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,390 shares of the company’s stock, valued at approximately $36,000. Tower Research Capital LLC TRC owned about 0.07% of Greenidge Generation as of its most recent filing with the Securities and Exchange Commission. 8.50% of the stock is currently owned by hedge funds and other institutional investors.

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.