GCL Global (NASDAQ:GCL) Shares Up 2.7% – Here’s What Happened

Shares of GCL Global Holdings Ltd. (NASDAQ:GCL) rose 2.7% during trading on Thursday . The company traded as high as $0.5198 and last traded at $0.4880. 128,900 shares were traded during mid-day trading, an increase of 25% from the average session volume of 103,247 shares. The stock had previously closed at $0.4750.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GCL Global in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

GCL Global Price Performance

The firm’s fifty day moving average price is $0.47 and its 200-day moving average price is $0.61. The company has a market cap of $59.51 million, a price-to-earnings ratio of -24.40 and a beta of 0.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd increased its stake in shares of GCL Global by 361.2% in the fourth quarter. XTX Topco Ltd now owns 48,682 shares of the company’s stock valued at $52,000 after purchasing an additional 38,127 shares during the period. Citadel Advisors LLC boosted 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 worth $139,000 after buying an additional 19,699 shares during the period. Two Sigma Investments LP bought a new position in GCL Global in the 3rd quarter worth approximately $42,000. Finally, Geode Capital Management LLC bought a new position in GCL Global in the 2nd quarter worth approximately $54,000. 36.55% of the stock is owned by institutional investors and hedge funds.

GCL Global Company Profile

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.