Greenland Mines Ltd. Common Stock (NASDAQ:GRML) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 83.9% to 935,276 shares as of September 30, representing approximately 8.8% of the company’s shares outstanding.
• Analysts remain bearish: the stock carries a consensus “Sell” rating, with Weiss Ratings downgrading its assessment further.
• The company authorized a $20 million stock buyback, allowing repurchases of up to 20.4% of outstanding shares, while the stock opened at $6.49 and has traded between $2.82 and $36.99 over the past year.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Get Free Report) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 935,276 shares, a growth of 83.9% from the September 15th total of 508,658 shares. Approximately 8.8% of the company's shares are sold short. Based on an average daily trading volume, of 41,326,353 shares, the short-interest ratio is currently 0.0 days.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings cut Greenland Mines Ltd. Common Stock from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 9th. Wall Street Zen raised shares of Greenland Mines Ltd. Common Stock to a "sell" rating in a research note on Saturday, August 29th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has a consensus rating of "Sell".

Greenland Mines Ltd. Common Stock Stock Performance

Shares of GRML stock opened at $6.49 on Thursday. The firm's 50 day moving average price is $7.47 and its two-hundred day moving average price is $14.04. Greenland Mines Ltd. Common Stock has a 52-week low of $2.82 and a 52-week high of $36.99. The stock has a market cap of $78.06 million, a PE ratio of -0.56 and a beta of 6.26.

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

Greenland Mines Ltd. Common Stock declared that its board has initiated a stock buyback program on Tuesday, October 6th that authorizes the company to buy back $20.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 20.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, Director Riad Hussein El-Dada sold 3,500 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.35, for a total transaction of $32,725.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jason David Sawyer purchased 4,800 shares of the firm's stock in a transaction that occurred on Wednesday, July 22nd. The stock was purchased at an average price of $11.50 per share, for a total transaction of $55,200.00. Following the acquisition, the director owned 4,800 shares of the company's stock, valued at $55,200. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 11.30% of the company's stock.

Institutional Investors Weigh In On Greenland Mines Ltd. Common Stock

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.