Great Elm Group (NASDAQ:GEG) Trading Up 1.2% – Here’s What Happened

Great Elm Group, Inc. (NASDAQ:GEG) shares were up 1.2% during trading on Friday . The stock traded as high as $2.20 and last traded at $2.1850. Approximately 24,665 shares changed hands during mid-day trading, an increase of 367% from the average daily volume of 5,285 shares. The stock had previously closed at $2.16.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Great Elm Group from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Great Elm Group Stock Performance

The firm has a market cap of $68.52 million, a P/E ratio of -2.66 and a beta of 0.56. The company has a current ratio of 13.18, a quick ratio of 13.18 and a debt-to-equity ratio of 1.56. The company’s 50-day moving average is $2.06 and its two-hundred day moving average is $2.23.

Great Elm Group (NASDAQ:GEG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.45) earnings per share for the quarter. Great Elm Group had a negative net margin of 100.48% and a negative return on equity of 54.63%. The business had revenue of $3.42 million during the quarter.

Hedge Funds Weigh In On Great Elm Group

Several large investors have recently added to or reduced their stakes in GEG. Millennium Management LLC bought a new position in Great Elm Group in the 3rd quarter valued at about $158,000. Geode Capital Management LLC lifted its position in Great Elm Group by 17.1% in the 4th quarter. Geode Capital Management LLC now owns 180,866 shares of the company’s stock valued at $461,000 after acquiring an additional 26,460 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Great Elm Group by 2,377.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 919,048 shares of the company’s stock valued at $2,344,000 after acquiring an additional 881,955 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Great Elm Group during the 4th quarter worth approximately $447,000. Institutional investors own 52.83% of the company’s stock.

About Great Elm Group

Great Elm Group (NASDAQ: GEG) is a closed-end investment company specializing in private credit and equity co-investments for U.S. middle-market companies. The firm’s portfolio is composed primarily of senior secured loans, unitranche financing structures and selective equity interests, with an emphasis on providing flexible capital solutions for growth initiatives, refinancings, acquisitions and recapitalizations.

Through a disciplined underwriting process, Great Elm Group evaluates opportunities across a diverse range of industry sectors, including healthcare, business services, manufacturing and consumer products.