Global Engine Group Holding Limited (NASDAQ:GLE) Short Interest Update

Global Engine Group Holding Limited (NASDAQ:GLE) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 83,464 shares, a growth of 50.8% from the March 15th total of 55,330 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 94,608 shares, the days-to-cover ratio is presently 0.9 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 position in Global Engine Group Holding Limited (NASDAQ:GLE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Global Engine Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Global Engine Group Stock Performance

NASDAQ GLE traded down $0.02 during trading hours on Tuesday, hitting $0.42. 38,556 shares of the company’s stock traded hands, compared to its average volume of 160,820. Global Engine Group has a 52 week low of $0.25 and a 52 week high of $3.89. The business’s fifty day moving average price is $0.39 and its two-hundred day moving average price is $0.46.

About Global Engine Group

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.