Greenland Mines Ltd. Common Stock (NASDAQ:GRML) Shares Gap Up - Should You Buy?

Key Points

• GRML shares gapped up from a prior close of $8.55 to open at $10.30, but later traded near $8.96 on volume of approximately 998,250 shares.
• Analyst sentiment remains negative: MarketBeat reports an average rating of “Sell”, while Weiss Ratings downgraded the stock and Wall Street Zen maintained a sell assessment.
• The company reported a quarterly loss of $1.50 per share; GRML has a $1.68 billion market capitalization, a negative P/E ratio of -33.09, and high volatility with a beta of 7.13.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $8.55, but opened at $10.30. Greenland Mines Ltd. Common Stock shares last traded at $8.9550, with a volume of 998,250 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on GRML shares. Weiss Ratings cut shares of Greenland Mines Ltd. Common Stock from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised Greenland Mines Ltd. Common Stock to a "sell" rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Greenland Mines Ltd. Common Stock Price Performance

The stock has a market cap of $1.68 billion, a P/E ratio of -33.09 and a beta of 7.13. The company's 50 day simple moving average is $0.39 and its 200 day simple moving average is $0.41.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Get Free Report) last announced its quarterly earnings results on Monday, August 17th. The company reported ($1.50) earnings per share for the quarter.

Insider Transactions at Greenland Mines Ltd. Common Stock

In other Greenland Mines Ltd. Common Stock news, Director Jason David Sawyer bought 4,800 shares of the firm's stock in a transaction on Wednesday, July 22nd. The stock was purchased at an average cost of $11.50 per share, with a total value of $55,200.00. Following the completion of the purchase, the director owned 4,800 shares in the company, valued at approximately $55,200. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Riad Hussein El-Dada sold 3,500 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $11.50, for a total value of $40,250.00. Following the completion of the sale, the director owned 3,500 shares of the company's stock, valued at $40,250. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.30% of the stock is currently owned by insiders.

Institutional Trading of Greenland Mines Ltd. Common Stock

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in shares of Greenland Mines Ltd. Common Stock during the second quarter worth $26,000. Brummer Multi Strategy AB bought a new stake in Greenland Mines Ltd. Common Stock in the 4th quarter valued at $175,000. Geode Capital Management LLC boosted its stake in Greenland Mines Ltd. Common Stock by 51.8% in the 4th quarter. Geode Capital Management LLC now owns 491,832 shares of the company's stock worth $142,000 after purchasing an additional 167,905 shares during the period. Renaissance Technologies LLC acquired a new position in Greenland Mines Ltd. Common Stock in the 4th quarter worth $126,000. Finally, XTX Topco Ltd increased its holdings in Greenland Mines Ltd. Common Stock by 101.2% during the 4th quarter. XTX Topco Ltd now owns 160,569 shares of the company's stock worth $46,000 after purchasing an additional 80,768 shares in the last quarter. 20.07% of the stock is currently owned by institutional investors and hedge funds.

About Greenland Mines Ltd. Common Stock

Greenland Mines Ltd develops essential medicines for the treatment of chronic diseases - cancer, cardiovascular, and neurodegenerative disorders. The Company operates as a single reporting segment focused on developing essential medicines for these chronic diseases. The Company has acquired two licensed platforms: a generic drug portfolio and a biosimilar biologics platform that uses biologic therapies to treat cancer, and proprietary patented technologies involving melanocortin receptor-binding molecules and a gene therapy platform that introduces a therapeutic protein called Klotho inside the body to treat neurodegenerative 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source