Greenidge Generation Holdings (GREE) AI Stock Analysis

• Market Cap: $10.06M
• Dividend Yield: N/A
• Average Volume (3M): 143.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.87
• Revenue Growth: -3.56%
• EPS Growth: 96.45%
• Country: US
• Employees: 40
• Sector: Financial
• Sector Strength: 84
• Industry: Capital Markets
• EPS (TTM): -1.95
• Shares Outstanding: 8,703,030
• 10 Day Avg. Volume: 122,271
• 30 Day Avg. Volume: 143,586
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 1.46
• Price to Cash Flow (P/CF): -13.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Greenidge Generation Holdings is currently struggling with significant financial and operational challenges, reflected in its weak financial performance and bearish technical indicators. While corporate events suggest potential growth initiatives, overall financial instability and negative profitability weigh heavily on the stock's outlook.

Greenidge Generation Holdings Business Overview & Revenue Model

Company Description

Greenidge Generation Holdings (GREE) is a vertically integrated cryptocurrency data center and power generation company. It operates at the intersection of cryptocurrency mining and energy production, leveraging its own power plant facilities to provide low-cost, reliable energy for its Bitcoin mining operations. The company is engaged in the operation, ownership, and development of cryptocurrency data centers and power generation assets in the United States.

How the Company Makes Money

Greenidge Generation Holdings primarily makes money through its cryptocurrency mining operations, where it uses its own power generation capabilities to mine Bitcoin and other cryptocurrencies. The company benefits from owning its energy supply, which allows it to manage energy costs efficiently and maintain consistent mining operations. Additionally, Greenidge may also generate revenue by selling excess power back to the grid when electricity prices are favorable. Significant factors contributing to its earnings include the market price of Bitcoin, energy costs, and operational efficiency. There may be partnerships or agreements related to energy sales or cryptocurrency transactions, but specific details are not provided.

Greenidge Generation Holdings Financial Statement Overview

Summary

Greenidge Generation Holdings is facing severe financial challenges characterized by declining revenue, negative profitability, and high leverage. The negative equity position and ongoing cash flow inefficiencies underscore the need for significant operational and financial improvements.

Income Statement

Greenidge Generation Holdings has experienced declining revenue and profitability. The TTM data shows Gross Profit Margin of 19.37% and Net Profit Margin of -20.09%, indicating that the company is not currently profitable. Revenue has decreased from previous periods, and negative EBIT and EBITDA margins further highlight operational challenges. The company needs to improve efficiency and stabilize its revenue streams.

Balance Sheet

The company has a negative Stockholders' Equity of -$58 million in TTM, indicating high leverage and potential financial instability. The Debt-to-Equity Ratio cannot be calculated due to negative equity, but the high total debt relative to assets suggests significant financial risk. This balance sheet position requires careful management to avoid solvency issues.

Cash Flow

Greenidge Generation Holdings faces cash flow challenges with negative Operating and Free Cash Flows in TTM. The Free Cash Flow to Net Income Ratio and Operating Cash Flow to Net Income Ratio indicate inefficiencies in converting revenue into cash. Improvement in cash flow management is necessary to support operations and potential growth.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
64.38M	70.39M	89.98M	107.28M	20.11M	4.44M
	Gross Profit
12.47M	19.38M	30.14M	73.46M	7.51M	-461.00K
	EBIT
-11.40M	-16.89M	-58.64M	33.92M	-2.75M	-7.97M
	EBITDA
3.95M	-2.78M	-181.33M	45.37M	1.94M	-6.29M
	Net Income Common Stockholders
-12.94M	-29.51M	-269.74M	-44.48M	-3.84M	-9.42M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
11.75M	13.31M	15.22M	83.09M	11.82M	18.25M
	Total Assets
0.00	71.18M	163.77M	341.27M	65.38M	56.84M
	Total Debt
0.00	68.71M	152.35M	95.76M	8.21M	12.70M
	Net Debt
11.75M	55.40M	137.13M	13.16M	3.16M	950.00K
	Total Liabilities
0.00	122.20M	210.81M	128.84M	21.02M	23.12M
	Stockholders Equity
33.72M	-51.02M	-47.05M	212.42M	44.36M	33.72M
Cash Flow		Free Cash Flow
-27.57M	-25.17M	-147.44M	-123.49M	-4.04M	-10.36M
	Operating Cash Flow
-18.57M	-12.15M	-14.48M	40.08M	557.00K	-6.90M
	Investing Cash Flow
-297.00K	-2.71M	-121.35M	-136.46M	-10.55M	-9.75M
	Financing Cash Flow
16.14M	13.77M	62.14M	173.93M	3.30M	27.70M

Greenidge Generation Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.86
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GREE, the sentiment is Negative. The current price of 0.86 is above the 20-day moving average (MA) of 0.85, below the 50-day MA of 1.14, and below the 200-day MA of 1.99, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 41.48 is Neutral, neither overbought nor oversold. The STOCH value of 48.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GREE.

Greenidge Generation Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	64 Neutral	$14.59B	10.31	8.70%	4.21%	16.52%	-11.97%
RIOT	63 Neutral	$2.98B	24.71	4.35%	―	34.20%	―
MARA	55 Neutral	$4.93B	10.05	18.84%	―	69.38%	30.30%
HIVE	45 Neutral	$407.88M	―	-2.15%	―	27.99%	90.99%
BITF	44 Neutral	$639.26M	―	-31.62%	―	45.19%	-33.48%
GREE	42 Neutral	$10.06M	―	22.29%	―	-3.56%	96.45%
ARBK	37 Underperform	$27.76M	―	242.25%	―	―	―

Greenidge Generation Holdings Corporate Events

Greenidge Generation Expands Stock Issuance for Growth

Greenidge Generation Holdings Inc. has approved a significant increase in its Class A common stock issuance under its amended 2021 Equity Incentive Plan, adding 700,000 shares to the pool. This move, supported by major stakeholders, aims to bolster the company’s stockholder incentives and will take effect 40 days after notifying stockholders, offering potential growth opportunities for investors.