Galaxy Payroll Group Limited (NASDAQ:GLXG) Sees Significant Increase in Short Interest

Galaxy Payroll Group Limited (NASDAQ:GLXG) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 255,974 shares, a growth of 1,990.8% from the May 31st total of 12,243 shares. Based on an average trading volume of 16,711,146 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Galaxy Payroll Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Galaxy Payroll Group currently has an average rating of “Sell”.

Galaxy Payroll Group Stock Performance

Shares of Galaxy Payroll Group stock traded up $0.03 on Thursday, reaching $1.34. 96,641 shares of the company were exchanged, compared to its average volume of 9,642,160. Galaxy Payroll Group has a 1-year low of $0.72 and a 1-year high of $7.80. The stock’s 50 day moving average price is $1.33 and its 200-day moving average price is $1.86.

Galaxy Payroll Group (NASDAQ:GLXG) last released its earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $0.90 million for the quarter.

About Galaxy Payroll Group

Galaxy Payroll Group, Inc (NASDAQ: GLXG) is a provider of payroll and human capital management services designed for small and mid-sized businesses in the United States. Utilizing a combination of proprietary technology and dedicated payroll professionals, the company delivers solutions aimed at streamlining payroll operations, mitigating compliance risk and reducing administrative workload for its clients.

The company’s service offerings encompass cloud-based payroll processing, automated tax filing and reporting, garnishment administration, and comprehensive compliance management.