Greenidge Generation (NASDAQ:GREE) Stock Price Down 10.1%

Greenidge Generation Holdings Inc. (NASDAQ:GREE) dropped 10.1% during trading on Monday . The company traded as low as $2.46 and last traded at $2.48. Approximately 215,939 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 298,430 shares. The stock had previously closed at $2.76.

Analysts Set New Price Targets

Separately, B. Riley lowered their price target on Greenidge Generation from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 31st.

Greenidge Generation Stock Down 10.1 %

The stock has a fifty day moving average of $2.74 and a 200 day moving average of $3.75.

Insider Transactions at Greenidge Generation

In other news, President Dale Irwin sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $2.55, for a total transaction of $63,750.00. Following the sale, the president now directly owns 79,739 shares of the company’s stock, valued at approximately $203,334.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 40.50% of the company’s stock.

Hedge Funds Weigh In On Greenidge Generation

A hedge fund recently bought a new stake in Greenidge Generation stock. Tower Research Capital LLC TRC purchased a new position in shares of Greenidge Generation Holdings Inc. (NASDAQ:GREE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,390 shares of the company’s stock, valued at approximately $36,000. Tower Research Capital LLC TRC owned approximately 0.07% of Greenidge Generation at the end of the most recent quarter. 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.