Creative Global Technology Holdings Limited (NASDAQ:CGTL) Sees Large Growth in Short Interest

Creative Global Technology Holdings Limited (NASDAQ:CGTL) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 1,482,563 shares, an increase of 787.7% from the May 14th total of 167,019 shares. Approximately 8.6% of the shares of the company are short sold. Based on an average daily trading volume, of 14,268,857 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Creative Global Technology

A hedge fund recently bought a new stake in Creative Global Technology stock. Renaissance Technologies LLC bought a new position in Creative Global Technology Holdings Limited (NASDAQ:CGTL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 111,359 shares of the company’s stock, valued at approximately $118,000. Renaissance Technologies LLC owned 0.65% of Creative Global Technology at the end of the most recent reporting period.

Creative Global Technology Stock Performance

CGTL opened at $0.45 on Friday. Creative Global Technology has a 1-year low of $0.15 and a 1-year high of $6.40. The business has a 50 day moving average price of $0.86 and a two-hundred day moving average price of $1.59.

Creative Global Technology (NASDAQ:CGTL) last released its earnings results on Friday, January 30th. The company reported $0.07 earnings per share for the quarter. The firm had revenue of $4.45 million during the quarter.

Analyst Ratings Changes

CGTL has been the subject of several analyst reports. Weiss Ratings upgraded Creative Global Technology from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, June 1st. Wall Street Zen downgraded Creative Global Technology from a “hold” rating to a “sell” rating in a research report on Sunday, April 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

About Creative Global Technology

Creative Global Technology Holdings Inc (NASDAQ: CGTL) is a China-based provider of advanced electronics manufacturing services specializing in the design and production of semiconductor packaging substrates, printed circuit boards (PCBs) and related back-end assembly solutions. The company’s core capabilities encompass high-density interconnect substrates, leadframe and leadless chip carriers, and system-in-package modules, enabling customers to address the miniaturization and performance demands of modern electronic devices.

CGTL serves a broad spectrum of end markets, including smartphones, tablets, computing devices, automotive electronics, and industrial applications.