Global Engine Group (NASDAQ:GLE) Stock Price Down 0.8% – Here’s Why

Global Engine Group Holding Limited (NASDAQ:GLE) was down 0.8% during trading on Friday . The company traded as low as $0.35 and last traded at $0.3759. 430,071 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 7,819,034 shares. The stock had previously closed at $0.3789.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Global Engine Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Global Engine Group Stock Down 0.8%

The company’s fifty day moving average price is $0.42 and its two-hundred day moving average price is $0.40.

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

Hedge Funds Weigh In On Global Engine Group

An institutional investor recently bought a new stake in Global Engine Group stock. Jane Street Group LLC purchased a new stake in Global Engine Group Holding Limited (NASDAQ:GLE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 50,445 shares of the company’s stock, valued at approximately $77,000. Jane Street Group LLC owned 0.28% of Global Engine Group at the end of the most recent reporting period.

About Global Engine Group

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.