Short Interest in GCL Global Holdings Ltd. (NASDAQ:GCL) Grows By 29.9%

GCL Global Holdings Ltd. (NASDAQ:GCL) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 72,367 shares, a growth of 29.9% from the February 26th total of 55,704 shares. Based on an average trading volume of 232,611 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GCL shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GCL Global in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of GCL Global from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

GCL Global Stock Down 7.2%

Shares of NASDAQ:GCL traded down $0.04 on Monday, reaching $0.56. The company had a trading volume of 10,508 shares, compared to its average volume of 147,048. The firm has a market capitalization of $68.33 million, a PE ratio of -28.02 and a beta of 0.45. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.98. GCL Global has a 52-week low of $0.47 and a 52-week high of $4.49. The firm’s 50 day simple moving average is $0.74 and its 200-day simple moving average is $1.35.

Hedge Funds Weigh In On GCL Global

A number of large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC lifted its position in shares of GCL Global by 54.4% during the third quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock valued at $139,000 after buying an additional 19,699 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of GCL Global in the 2nd quarter worth approximately $54,000. XTX Topco Ltd raised its stake in shares of GCL Global by 361.2% during the 4th quarter. XTX Topco Ltd now owns 48,682 shares of the company’s stock worth $52,000 after acquiring an additional 38,127 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in GCL Global during the third quarter valued at approximately $42,000. 36.55% of the stock is currently owned by institutional investors.

About GCL Global

GCL Global Enterprises, Inc (NASDAQ: GCL) is a U.S.-based provider of residential and commercial restoration, remodeling and reconstruction services. The company specializes in water damage remediation, mold mitigation, fire and smoke damage restoration, storm and disaster recovery, and general contracting work. Through a combination of proprietary processes, licensed technicians and third-party partnerships, GCL Global delivers end-to-end project management from initial assessment through final rebuild.

In addition to its core restoration business, GCL Global offers home improvement and renovation services, including flooring, painting, cabinetry and other remodeling projects.