Greenland Mines Ltd. Common Stock (NASDAQ:GRML) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Greenland Mines from “sell” to “strong sell.” Weiss Ratings also lowered its rating, and the stock’s average analyst rating is “Sell.”
• The board authorized a $20 million share repurchase plan, allowing the company to buy back up to 20.4% of its shares.
• Insider transactions were mixed: CFO Jeff Leblanc bought 14,000 shares in August, while director Riad Hussein El-Dada sold 3,500 shares in October.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Greenland Mines Ltd. Common Stock from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Greenland Mines Ltd. Common Stock currently has an average rating of "Sell".

Greenland Mines Ltd. Common Stock Trading Up 7.6%

Shares of NASDAQ:GRML opened at $3.84 on Friday. Greenland Mines Ltd. Common Stock has a 1 year low of $2.82 and a 1 year high of $36.99. The business's 50 day moving average price is $6.22 and its 200-day moving average price is $14.47.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Get Free Report) last announced its quarterly earnings data on Monday, August 17th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Greenland Mines Ltd. Common Stock announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 6th that authorizes the company to buy back $20 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 20.4% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its stock is undervalued.

Insider Activity at Greenland Mines Ltd. Common Stock

In other news, CFO Jeff Leblanc purchased 14,000 shares of Greenland Mines Ltd. Common Stock stock in a transaction dated Tuesday, August 25th. The stock was acquired at an average cost of $9.72 per share, for a total transaction of $136,080.00. Following the acquisition, the chief financial officer directly owned 110,406 shares in the company, valued at $1,073,146.32. This represents a 14.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Riad Hussein El-Dada sold 3,500 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.35, for a total value of $32,725.00. The SEC filing for this sale provides additional information. 11.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Greenland Mines Ltd. Common Stock

A hedge fund recently bought a new position in Greenland Mines Ltd. Common Stock stock. Citadel Advisors LLC bought a new stake in Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,165,648 shares of the company's stock, valued at approximately $1,343,000. Citadel Advisors LLC owned about 162.60% of Greenland Mines Ltd. Common Stock at the end of the most recent quarter. Institutional investors own 20.07% of the company's stock.

Greenland Mines Ltd. Common Stock Company Profile

Klotho Neurosciences, Inc, a biopharmaceutical company, develops therapies for neurological and age-related disorders, and specialty diagnostics. Its products include cell and gene therapies to mitigate age-related pathologies, such as dementia symptoms, and Alzheimer and neuromuscular diseases; biologics/biosimilars in the treatment of cancer; and melanocortin receptors. The company has a strategic partnership with Japan's Okinawa Research Center for the research and development of Klotho gene therapy in enhancing longevity and reducing age-related diseases.

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