Short Interest in Gloo Holdings (NASDAQ:GLOO) Grows By 206.6%

Gloo Holdings (NASDAQ:GLOO) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totaling 421,090 shares, a growth of 206.6% from the May 31st total of 137,338 shares. Based on an average daily trading volume, of 259,254 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts recently commented on GLOO shares. Wall Street Zen downgraded shares of Gloo from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. Finally, Benchmark increased their target price on shares of Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Gloo Price Performance

Shares of NASDAQ:GLOO traded up $0.15 during trading on Friday, hitting $4.36. 151,204 shares of the stock were exchanged, compared to its average volume of 179,513. The company has a fifty day simple moving average of $5.76. Gloo has a 12-month low of $4.20 and a 12-month high of $9.98.

Gloo (NASDAQ:GLOO) last posted its earnings results on Monday, June 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The business had revenue of $41.53 million during the quarter. On average, equities analysts anticipate that Gloo will post -0.31 earnings per share for the current year.

Insider Buying and Selling at Gloo

In other Gloo news, major shareholder Financial For Luthera Thrivent sold 15,600 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $4.33, for a total value of $67,548.00. Following the sale, the insider directly owned 4,663,000 shares in the company, valued at $20,190,790. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott Arthur Beck acquired 3,700 shares of the stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of $7.97 per share, with a total value of $29,489.00. Following the completion of the transaction, the chief executive officer owned 443,586 shares in the company, valued at approximately $3,535,380.42. This represents a 0.84% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 33,886 shares of company stock worth $249,834 and sold 123,477 shares worth $570,957. 45.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gloo

Several hedge funds have recently added to or reduced their stakes in GLOO. Grace & Mercy Foundation Inc. acquired a new position in Gloo during the fourth quarter worth about $14,225,000. 1492 Capital Management LLC acquired a new stake in shares of Gloo in the fourth quarter valued at approximately $1,627,000. Annandale Capital LLC purchased a new position in shares of Gloo during the 4th quarter worth approximately $1,423,000. Waverly Advisors LLC acquired a new position in shares of Gloo during the 1st quarter worth approximately $1,202,000. Finally, Cornerstone Management Inc. acquired a new position in shares of Gloo during the 1st quarter worth approximately $601,000.

Gloo Company Profile

Gloo’s mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives. The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers.