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

GCL Global Holdings Ltd. (NASDAQ:GCL) saw a significant growth in short interest in 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. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 232,611 shares, the short-interest ratio is presently 0.3 days.

GCL Global Stock Performance

Shares of GCL stock traded up $0.05 during mid-day trading on Friday, reaching $0.60. 61,500 shares of the company’s stock traded hands, compared to its average volume of 145,761. GCL Global has a 12 month low of $0.47 and a 12 month high of $4.49. The firm has a 50 day moving average price of $0.75 and a two-hundred day moving average price of $1.38. The firm has a market capitalization of $73.61 million, a PE ratio of -30.18 and a beta of 0.44. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.84 and a current ratio of 1.31.

Institutional Trading of GCL Global

A number of hedge funds and other institutional investors have recently bought and sold shares of GCL. Geode Capital Management LLC purchased a new stake in GCL Global in the 2nd quarter worth $54,000. Two Sigma Investments LP bought a new stake in shares of GCL Global in the third quarter worth about $42,000. XTX Topco Ltd increased its holdings 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 worth $52,000 after purchasing an additional 38,127 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of GCL Global by 54.4% in 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 in the last quarter. Hedge funds and other institutional investors own 36.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GCL has been the topic of several research analyst reports. 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. Weiss Ratings reiterated a “sell (d)” rating on shares of GCL Global in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.