Great Elm Group (NASDAQ:GEG) Trading Down 8.9% – Here’s What Happened

Great Elm Group, Inc. (NASDAQ:GEG)’s stock price fell 8.9% on Tuesday . The company traded as low as $2.15 and last traded at $2.15. 9,920 shares changed hands during trading, an increase of 197% from the average daily volume of 3,338 shares. The stock had previously closed at $2.36.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Great Elm Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Great Elm Group Stock Up 3.2%

The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.56. The business’s fifty day moving average price is $2.24 and its 200 day moving average price is $2.14. The firm has a market capitalization of $69.93 million, a PE ratio of -2.72 and a beta of 0.57.

Great Elm Group (NASDAQ:GEG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.45) earnings per share for the quarter. Great Elm Group had a negative net margin of 100.48% and a negative return on equity of 54.63%. The firm had revenue of $3.42 million during the quarter.

Institutional Trading of Great Elm Group

Hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new position in Great Elm Group during the fourth quarter valued at approximately $447,000. Goldman Sachs Group Inc. raised its position in shares of Great Elm Group by 2,377.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 919,048 shares of the company’s stock valued at $2,344,000 after acquiring an additional 881,955 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Great Elm Group by 17.1% in the 4th quarter. Geode Capital Management LLC now owns 180,866 shares of the company’s stock valued at $461,000 after buying an additional 26,460 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Great Elm Group during the third quarter valued at approximately $158,000. 52.83% of the stock is owned by institutional investors and hedge funds.

About Great Elm Group

Great Elm Group (NASDAQ: GEG) is a closed-end investment company specializing in private credit and equity co-investments for U.S. middle-market companies. The firm’s portfolio is composed primarily of senior secured loans, unitranche financing structures and selective equity interests, with an emphasis on providing flexible capital solutions for growth initiatives, refinancings, acquisitions and recapitalizations.

Through a disciplined underwriting process, Great Elm Group evaluates opportunities across a diverse range of industry sectors, including healthcare, business services, manufacturing and consumer products.