Global Engine Group Holding Limited (NASDAQ:GLE) Sees Significant Decline in Short Interest

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

Global Engine Group Stock Down 9.4%

NASDAQ GLE traded down $0.05 during trading on Friday, hitting $0.49. The stock had a trading volume of 868,153 shares, compared to its average volume of 9,258,445. Global Engine Group has a one year low of $0.25 and a one year high of $3.89. The stock has a 50 day simple moving average of $0.42 and a 200 day simple moving average of $0.41.

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

Institutional Trading of Global Engine Group

A hedge fund recently bought a new stake in Global Engine Group stock. Jane Street Group LLC acquired a new position in Global Engine Group Holding Limited (NASDAQ:GLE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 reporting period.

Wall Street Analyst Weigh In

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

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.