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Irwin Dale, the President of Greenidge Generation Holdings Inc. (NASDAQ:GREE), recently executed a series of stock transactions involving the company’s Class A Common Stock. According to a filing with the Securities and Exchange Commission, Dale sold shares totaling $19,067. The sales occurred on March 28, 2025, at prices ranging from $0.80 to $0.81 per share, with the stock currently trading at $0.82. The micro-cap company, valued at approximately $9.4 million, has seen its shares decline by over 76% in the past year. InvestingPro analysis indicates the stock is currently trading below its Fair Value.
These transactions were carried out to cover tax withholding obligations related to the vesting of restricted stock units, rather than as a discretionary sale by Dale. Following these transactions, Dale holds 99,118 shares of the company’s stock. According to InvestingPro’s financial health assessment, the company currently shows a WEAK overall score, with 13 additional key insights available to subscribers.
In other recent news, Greenidge Generation Holdings Inc. reported an improvement in its financial performance for the fourth quarter and full year of 2024. The company achieved a total revenue of $14.8 million for Q4, marking a $2.4 million increase from the previous quarter. Net loss from continuing operations improved by $2.0 to $3.0 million compared to Q3 2024, while Adjusted EBITDA showed a significant enhancement over the same period. For the full year, Greenidge generated $59.5 million in revenue and reduced SG&A expenses by $8.9 million from 2023, with a notable improvement in net loss figures. Additionally, Greenidge entered into an Equity Interest Payment Agreement with Atlas (NYSE:ATCO) Capital Resources GP LLC to maintain essential credit support. This agreement involves payments made in shares of Greenidge’s Class A common stock, securing credit without immediate cash outlay. Atlas will keep certain letters of credit active, crucial for Greenidge’s environmental and pipeline project obligations. These developments reflect Greenidge’s strategic efforts to manage its financial health and operational commitments.
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