Global Engine Group Holding Limited (NASDAQ:GLE) Stock Short Interest Drops 90.4%

Global Engine Group Holding Limited (NASDAQ:GLE) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 14,297 shares, a decrease of 90.4% from the September 30th total of 148,758 shares. Based on an average daily trading volume, of 22,097 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Global Engine Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Global Engine Group presently has a consensus rating of “Sell”.

Global Engine Group Stock Performance

Shares of GLE traded up $0.04 on Wednesday, reaching $2.47. 85,807 shares of the company’s stock traded hands, compared to its average volume of 306,678. The stock’s 50 day simple moving average is $4.56 and its two-hundred day simple moving average is $4.14. Global Engine Group has a 52-week low of $1.42 and a 52-week high of $10.90.

About Global Engine Group

Global Engine Group Holding Limited provides integrated solutions in the information communication technologies (ICT), system integration, and other technical consultation service areas in Hong Kong. The company offers ICT solution services, including cloud platform deployment, IT system design, configuration, maintenance, and data center colocation and cloud services; technical services, such as technical development, support, and outsourcing services for data center and cloud computing infrastructure, mobility and fixed network communications, and Internet-of-things (IoT) projects; and project management services.