GCL Global Holdings Ltd. (NASDAQ:GCL) Short Interest Up 532.3% in May

GCL Global Holdings Ltd. (NASDAQ:GCL) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 408,117 shares, an increase of 532.3% from the May 14th total of 64,544 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 18,298,183 shares, the short-interest ratio is presently 0.0 days.

Institutional Investors Weigh In On GCL Global

Several hedge funds have recently modified their holdings of GCL. Two Sigma Investments LP acquired a new stake in shares of GCL Global during the 3rd quarter valued at $42,000. XTX Topco Ltd boosted its holdings in shares of GCL Global by 361.2% during the 4th quarter. XTX Topco Ltd now owns 48,682 shares of the company’s stock valued at $52,000 after acquiring an additional 38,127 shares in the last quarter. Geode Capital Management LLC acquired a new stake in shares of GCL Global during the 2nd quarter valued at $54,000. Finally, Citadel Advisors LLC boosted its holdings in shares of GCL Global by 54.4% during the 3rd quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock valued at $139,000 after acquiring an additional 19,699 shares in the last quarter. Institutional investors and hedge funds own 36.55% of the company’s stock.

GCL Global Price Performance

GCL Global stock traded up $0.05 during mid-day trading on Wednesday, reaching $0.47. 129,603 shares of the company were exchanged, compared to its average volume of 2,080,788. The company has a fifty day simple moving average of $0.54 and a 200-day simple moving average of $0.80. GCL Global has a 12 month low of $0.41 and a 12 month high of $4.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.31 and a quick ratio of 0.84. The firm has a market cap of $56.71 million, a PE ratio of -23.20 and a beta of 0.33.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GCL Global in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average 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.