Greenland Energy Sees Unusually High Options Volume (NASDAQ:GLND)

Key Points

• Options activity surged: Investors purchased 4,034 call options, roughly 278% above Greenland Energy’s average daily call volume.
• Analyst sentiment remains mixed: Ratings include one Buy and one Sell, resulting in an overall MarketBeat consensus of Hold.
• Shares rose sharply: The stock gained $1.59 to $4.50 on unusually heavy volume of 39.4 million shares, versus an average of about 4.1 million.

Greenland Energy Co (NASDAQ:GLND - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors purchased 4,034 call options on the company. This represents an increase of approximately 278% compared to the average daily volume of 1,067 call options.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Greenland Energy from a "sell (e)" rating to a "sell (d-)" rating in a report on Tuesday, September 1st. Wall Street Zen lowered shares of Greenland Energy from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, ThinkEquity started coverage on shares of Greenland Energy in a research note on Monday, June 15th. They set a "buy" rating for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold".

Institutional Trading of Greenland Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Wealth LLC purchased a new position in shares of Greenland Energy in the second quarter worth $33,000. State Street Corp acquired a new stake in Greenland Energy during the second quarter worth about $417,000. Squarepoint Ops LLC acquired a new position in shares of Greenland Energy in the 2nd quarter valued at $41,000. Resolute Advisors LLC purchased a new stake in shares of Greenland Energy during the 2nd quarter worth about $163,000. Finally, PEAK6 LLC purchased a new position in Greenland Energy during the second quarter worth approximately $143,000.

Greenland Energy Stock Performance

Shares of Greenland Energy stock traded up $1.59 during trading on Thursday, hitting $4.50. The stock had a trading volume of 39,417,612 shares, compared to its average volume of 4,099,517. The company has a fifty day simple moving average of $1.72. The firm has a market capitalization of $196.78 million, a PE ratio of -26.54 and a beta of -2.64. Greenland Energy has a 12 month low of $1.09 and a 12 month high of $23.00.

Greenland Energy (NASDAQ:GLND - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.13) EPS for the quarter.

Greenland Energy Company Profile

Greenland Energy Company operates as an early-stage oil and gas exploration company. It focuses on the Jameson Land Basin in East Greenland. The company is based in Denver, Colorado.

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