Short Interest in Global Engine Group Holding Limited (NASDAQ:GLE) Drops By 58.5%

Global Engine Group Holding Limited (NASDAQ:GLE) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 44,647 shares, a decrease of 58.5% from the January 15th total of 107,562 shares. Based on an average trading volume of 149,234 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the company’s shares are sold short. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 149,234 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Global Engine Group

A hedge fund recently bought a new stake in Global Engine Group stock. Jane Street Group LLC purchased a new stake in Global Engine Group Holding Limited (NASDAQ:GLE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,445 shares of the company’s stock, valued at approximately $77,000. Jane Street Group LLC owned 0.28% of Global Engine Group at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Global Engine Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Global Engine Group presently has an average rating of “Sell”.

Global Engine Group Stock Up 20.7%

NASDAQ:GLE traded up $0.07 on Thursday, reaching $0.41. The company’s stock had a trading volume of 911,316 shares, compared to its average volume of 181,668. The business’s 50-day moving average price is $0.39 and its two-hundred day moving average price is $0.61. Global Engine Group has a 1-year low of $0.25 and a 1-year high of $3.89.

Global Engine Group (NASDAQ:GLE) last announced its quarterly earnings results on Tuesday, October 21st. The company reported ($0.13) earnings per share for the quarter. The business had revenue of $0.24 million for the quarter.

Global Engine Group Company Profile

Global Engine Group, Inc operates as a specialty distributor in the automotive aftermarket, offering a comprehensive range of new and remanufactured engine blocks, cylinder heads, transmission cases and related components. Through its two principal subsidiaries, MAM Distributors and Brenner Distributing, the company supplies replacement powertrain parts to independent repair shops, national service chains and regional distributors across North America. By centralizing procurement, remanufacturing and distribution processes, Global Engine Group aims to provide consistent quality and rapid fulfillment to its customers.

The company was formed through the combination of Brenner Distributing, known for its remanufacturing capabilities, and MAM Distributors, a large-scale parts distributor.