Greenland Technology GTEC shares have surged 65.2% over the trailing six-month period, outperforming the Zacks Computer & Technology sector’s appreciation of 18.2% and the Zacks Miscellaneous Products industry’s decline of 32.3%.

GTEC shares have also outperformed its industry peers, Bel Fuse BELFB and Flex FLEX. BELFB and FLEX shares have rallied 28% and 43.6% over the trailing six-month period, respectively.

The company’s strong performance can be attributed to its diversified customer base and the robust demand for electric industrial vehicles, which positions it well for future growth. As electric industrial vehicle adoption continues to rise, GTEC is set to benefit, reinforcing its competitive edge in the industry.

GTEC Shares Beat Sector, Industry

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Expanding Portfolio Aids GTEC’s Prospect

Greenland Technologies is making strong efforts in the electric heavy machinery sector, an emerging and rapidly growing market. The company is positioning itself to meet the rising demand for sustainable industrial solutions. To tap into this growth, the company’s strategy includes leveraging its subsidiary, HEVI, to offer advanced electric industrial equipment.

In October 2024, Greenland Technologies’ all-electric heavy equipment subsidiary, HEVI, announced a shift to a more aggressive dealer model to meet strong demand for its expanding electric industrial equipment lineup. This transition will enhance its successful Authorized Service Provider program and support the launch of the H65L and H55L all-electric front-wheel loaders.

GTEC’s subsidiary, HEVI, has also launched its all-electric H65L wheel loader, the largest of its kind in North America. It offers up to nine hours of operation and zero emissions. The H65L is designed for fast charging and maximum productivity with minimal environmental impact, positioning it as a standout in the growing trend of electric heavy machinery solutions.

Further expanding its industrial electric vehicle portfolio, HEVI introduced the H55L front wheel loader, an all-electric, eco-friendly solution combining robust performance with reduced emissions. The H55L is designed to cut operating costs, maintenance, and carbon footprints, offering up to six tons of lifting capacity with zero diesel emissions.

GTEC Drives Growth With Key Partnerships

GTEC’s expanding clientele, which includes Assurant AIZ, Lonking Holdings, and the National Energy Improvement Fund (NEIF), has been a major growth driver for its success.

HEVI’s collaboration with Assurant allows its customers to purchase Assurant’s Extended Service Contracts, offering coverage for its equipment beyond the manufacturer’s warranty.  Additionally, customers gain access to a range of protection products and services for heavy construction, agriculture, and forestry equipment, which enhances the value proposition of HEVI’s all-electric machinery.

Further bolstering its growth, GTEC’s subsidiary, HEVI, has also partnered with NEIF, further streamlining the financing process for customers purchasing its all-electric heavy equipment. This initiative provides various advantages, such as effective cost management, tax benefits, and support for sustainability goals, making it easier for customers to transition to eco-friendly equipment.

Expanding on this momentum, GTEC has also teamed up with Lonking Holdings to transform the U.S. heavy machinery market by developing electric-powered machinery under the HEVI brand. The company focuses on sustainability, efficiency, and advanced technology for improved productivity.

Earnings Estimates Show Mixed Trend

For 2025, the Zacks Consensus Estimate for GTEC’s revenues is pegged at $85 million, indicating a year-over-year increase of 1.70%.

The Zacks Consensus Estimate for 2025 earnings is pegged at 46 cents per share, which has remained unchanged in the past 30 days.

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Here’s Why GTEC is a Buy

Greenland Technologies’ strong performance, driven by its expanding electric vehicle portfolio and key partnerships, positions it well for future growth.

The company is also currently trading at a significant discount, as suggested by a Value Score of A. 

The forward 12-month Price/Sales ratio for GTEC stands at 0.37, significantly below the industry average of 4.30.

Price/Sales (F12M)

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Greenland Technologies stock currently carries a Zacks Rank #2 (Buy) and has a Growth Score of A, a favorable combination that offers a strong investment opportunity, per the Zacks Proprietary methodology. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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