Global Engine Group Holding Limited (NASDAQ:GLE) Short Interest Update

Global Engine Group Holding Limited (NASDAQ:GLE) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 136,522 shares, a decrease of 63.6% from the May 14th total of 374,642 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 584,885 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Global Engine Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Global Engine Group Price Performance

Shares of GLE traded down $0.05 during mid-day trading on Friday, reaching $0.49. The company’s stock had a trading volume of 868,153 shares, compared to its average volume of 9,258,445. Global Engine Group has a 1 year low of $0.25 and a 1 year high of $3.89. The business has a fifty day moving average of $0.42 and a 200 day moving average of $0.41.

Global Engine Group (NASDAQ:GLE) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.45 million for the quarter.

Hedge Funds Weigh In On Global Engine Group

An institutional investor recently bought a new position in Global Engine Group stock. Jane Street Group LLC purchased a new position in Global Engine Group Holding Limited (NASDAQ:GLE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 50,445 shares of the company’s stock, valued at approximately $77,000. Jane Street Group LLC owned about 0.28% of Global Engine Group at the end of the most recent quarter.

Global Engine Group Company Profile

Global Engine Group, Inc operates as a specialty distributor in the automotive aftermarket, offering a comprehensive range of new and remanufactured engine blocks, cylinder heads, transmission cases and related components. Through its two principal subsidiaries, MAM Distributors and Brenner Distributing, the company supplies replacement powertrain parts to independent repair shops, national service chains and regional distributors across North America. By centralizing procurement, remanufacturing and distribution processes, Global Engine Group aims to provide consistent quality and rapid fulfillment to its customers.

The company was formed through the combination of Brenner Distributing, known for its remanufacturing capabilities, and MAM Distributors, a large-scale parts distributor.