company background image
GREE

Greenidge Generation Holdings NasdaqGS:GREE Stock Report

Last Price

US$2.00

Market Cap

US$83.8m

7D

3.1%

1Y

-92.0%

Updated

30 Sep, 2022

Data

Company Financials +
GREE fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance0/6
Financial Health0/6
Dividends0/6

GREE Stock Overview

Greenidge Generation Holdings Inc. operates as an integrated cryptocurrency datacenter and power generation company.

Greenidge Generation Holdings Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Greenidge Generation Holdings
Historical stock prices
Current Share PriceUS$2.00
52 Week HighUS$30.79
52 Week LowUS$1.87
Beta0
1 Month Change-17.70%
3 Month Change-21.88%
1 Year Change-92.03%
3 Year Changen/a
5 Year Changen/a
Change since IPO-95.39%

Recent News & Updates

Sep 12

Greenidge Generation mines 301 bitcoins in August

Greenidge Generation (NASDAQ:GREE) has mined 301 bitcoins in August compared with 285 in July and 1,771 bitcoin for the eight months ended August 31, 2022.. The company had hashrate capacity of ~2.4 EH/s from ~24,500 miners in service as of August 31, 2022. Additionally ~5,000 older, less efficient miners representing approximately 0.3 EH/s taken offline in August to create capacity for new miners being delivered. The power plant uptime was of 100.0% during the month of August. Shares are trading up 2% premarket.

Shareholder Returns

GREEUS SoftwareUS Market
7D3.1%-1.3%-2.5%
1Y-92.0%-33.2%-23.2%

Return vs Industry: GREE underperformed the US Software industry which returned -30.9% over the past year.

Return vs Market: GREE underperformed the US Market which returned -21.5% over the past year.

Price Volatility

Is GREE's price volatile compared to industry and market?
GREE volatility
GREE Average Weekly Movement14.0%
Software Industry Average Movement8.9%
Market Average Movement6.9%
10% most volatile stocks in US Market15.6%
10% least volatile stocks in US Market2.8%

Stable Share Price: GREE is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: GREE's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
1937467Jeffrey Kirthttps://greenidge.com

Greenidge Generation Holdings Inc. operates as an integrated cryptocurrency datacenter and power generation company. The company owns and operates cryptocurrency datacenters in New York and South Carolina. It also owns and operates a 106 MW power generation facility.

Greenidge Generation Holdings Fundamentals Summary

How do Greenidge Generation Holdings's earnings and revenue compare to its market cap?
GREE fundamental statistics
Market CapUS$83.84m
Earnings (TTM)-US$157.59m
Revenue (TTM)US$149.03m

0.6x

P/S Ratio

-0.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
GREE income statement (TTM)
RevenueUS$149.03m
Cost of RevenueUS$59.63m
Gross ProfitUS$89.40m
Other ExpensesUS$246.99m
Earnings-US$157.59m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-3.76
Gross Margin59.99%
Net Profit Margin-105.74%
Debt/Equity Ratio159.2%

How did GREE perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is GREE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GREE?

Other financial metrics that can be useful for relative valuation.

GREE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.3x
Enterprise Value/EBITDA4.4x
PEG Ration/a

Price to Sales Ratio vs Peers

How does GREE's PS Ratio compare to its peers?

GREE PS Ratio vs Peers
The above table shows the PS ratio for GREE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average5.9x
GOLQ GoLogiq
16.8xn/aUS$83.0m
EXOD Exodus Movement
1xn/aUS$73.3m
CMCM Cheetah Mobile
0.5xn/aUS$57.6m
NOGN Nogin
5.2xn/aUS$90.0m
GREE Greenidge Generation Holdings
0.6x20.6%US$83.8m

Price-To-Sales vs Peers: GREE is good value based on its Price-To-Sales Ratio (0.6x) compared to the peer average (5.9x).


Price to Earnings Ratio vs Industry

How does GREE's PE Ratio compare vs other companies in the US Software Industry?

Price-To-Sales vs Industry: GREE is good value based on its Price-To-Sales Ratio (0.6x) compared to the US Software industry average (4.2x)


Price to Sales Ratio vs Fair Ratio

What is GREE's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GREE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.6x
Fair PS Ratio2.5x

Price-To-Sales vs Fair Ratio: GREE is good value based on its Price-To-Sales Ratio (0.6x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).


Share Price vs Fair Value

What is the Fair Price of GREE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate GREE's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate GREE's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


Discover undervalued companies

Future Growth

How is Greenidge Generation Holdings forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


80.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GREE is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: GREE is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: GREE is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: GREE's revenue (20.6% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: GREE's revenue (20.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if GREE's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Greenidge Generation Holdings performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-5,290.6%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: GREE is currently unprofitable.

Growing Profit Margin: GREE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if GREE's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare GREE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: GREE is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (13.4%).


Return on Equity

High ROE: GREE has a negative Return on Equity (-142.7%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Greenidge Generation Holdings's financial position?

Financial Health Score

0/6

Financial Health Score 0/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: GREE's short term assets ($85.8M) do not cover its short term liabilities ($98.8M).

Long Term Liabilities: GREE's short term assets ($85.8M) do not cover its long term liabilities ($133.7M).


Debt to Equity History and Analysis

Debt Level: GREE's net debt to equity ratio (99.1%) is considered high.

Reducing Debt: Insufficient data to determine if GREE's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: GREE has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: GREE has less than a year of cash runway if free cash flow continues to reduce at historical rates of 108.6% each year


Discover healthy companies

Dividend

What is Greenidge Generation Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Greenidge Generation Holdings Dividend Yield vs Market
How does Greenidge Generation Holdings dividend yield compare to the market?
SegmentDividend Yield
Company (Greenidge Generation Holdings)n/a
Market Bottom 25% (US)1.7%
Market Top 25% (US)4.7%
Industry Average (Software)1.1%
Analyst forecast in 3 Years (Greenidge Generation Holdings)n/a

Notable Dividend: Unable to evaluate GREE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate GREE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if GREE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if GREE's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as GREE has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.5yrs

Average management tenure


CEO

Jeffrey Kirt (49 yo)

1.5yrs

Tenure

US$4,408,552

Compensation

Mr. Jeffrey Emil Kirt serves as Independent Chairman of the Board at Verso Corporation. He is the Chief Executive Officer and Director of Greenidge Generation Holdings Inc since March 2021. He served as th...


CEO Compensation Analysis

Jeffrey Kirt's Compensation vs Greenidge Generation Holdings Earnings
How has Jeffrey Kirt's remuneration changed compared to Greenidge Generation Holdings's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-US$158m

Mar 31 2022n/an/a

-US$46m

Dec 31 2021US$4mUS$158k

-US$45m

Compensation vs Market: Jeffrey's total compensation ($USD4.41M) is above average for companies of similar size in the US market ($USD772.00K).

Compensation vs Earnings: Insufficient data to compare Jeffrey's compensation with company performance.


Leadership Team

Experienced Management: GREE's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

Experienced Board: GREE's board of directors are considered experienced (8.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of GREE?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders1,293,8073.1%
Institutions4,655,74311.1%
General Public9,168,97021.9%
VC/PE Firms26,800,30063.9%

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.4%.


Top Shareholders

Top 25 shareholders own 77.17% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
63.93%
Atlas Holdings LLC
26,800,300$53.6m0%16.4%
2.87%
210 Capital LLC
1,202,295$2.4m0%1.7%
1.84%
Dale Irwin
772,444$1.5m0%no data
1.46%
BlackRock, Inc.
613,251$1.2m302.28%no data
1.17%
The Vanguard Group, Inc.
490,256$980.5k10.67%no data
1%
Renaissance Technologies LLC
418,500$837.0k72.38%no data
0.52%
George Rogers
217,467$434.9k0%no data
0.52%
Exchange Traded Concepts, LLC
217,265$434.5k7.09%0.01%
0.46%
Geode Capital Management, LLC
191,878$383.8k147.03%no data
0.45%
State Street Global Advisors, Inc.
187,899$375.8k477.65%no data
0.44%
BIT Capital GmbH
184,417$368.8k0%1.06%
0.43%
Simplex Trading, LLC, Asset Management Arm
178,648$357.3k-4.3%0.01%
0.36%
Daniel Rothaupt
150,420$300.8k0%no data
0.26%
Teachers Insurance and Annuity Association-College Retirement Equities Fund
108,887$217.8k0%no data
0.23%
Northern Trust Global Investments
96,722$193.4k554.41%no data
0.19%
Timothy Lowe
79,208$158.4k0%no data
0.18%
Bridgeway Capital Management, LLC
73,800$147.6k51.23%no data
0.16%
Jeffrey Kirt
65,131$130.3k0%no data
0.13%
Citadel Advisors LLC
52,995$106.0k13.24%no data
0.12%
Empowered Funds, LLC
50,680$101.4k0%0.01%
0.11%
First Trust Advisors LP
46,921$93.8k1.29%no data
0.1%
Invesco Capital Management LLC
43,680$87.4k58.22%no data
0.1%
BNY Mellon Asset Management
42,850$85.7k185.84%no data
0.078%
Boardman Bay Capital Management
32,500$65.0k0%0.21%
0.075%
New York State Common Retirement Fund
31,600$63.2k0%no data

Company Information

Greenidge Generation Holdings Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Greenidge Generation Holdings Inc.
  • Ticker: GREE
  • Exchange: NasdaqGS
  • Founded: 1937
  • Industry: Application Software
  • Sector: Software
  • Implied Market Cap: US$83.838m
  • Shares outstanding: 41.92m
  • Website: https://greenidge.com

Number of Employees


Location

  • Greenidge Generation Holdings Inc.
  • 135 Rennell Drive
  • 3rd Floor
  • Fairfield
  • Connecticut
  • 6890
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GREENasdaqGS (Nasdaq Global Select)YesClass A Common StockUSUSDSep 2021

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/30 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.