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

Global Engine Group Holding Limited (NASDAQ:GLE) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 235,972 shares, a growth of 72.8% from the May 31st total of 136,522 shares. Based on an average trading volume of 15,990,457 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.7% of the company’s shares are sold short.

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 bought a new stake in shares of Global Engine Group Holding Limited (NASDAQ:GLE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,445 shares of the company’s stock, valued at approximately $77,000. Jane Street Group LLC owned approximately 0.28% of Global Engine Group at the end of the most recent quarter.

Global Engine Group Stock Down 7.4%

Global Engine Group stock opened at $0.43 on Friday. Global Engine Group has a fifty-two week low of $0.25 and a fifty-two week high of $3.89. The stock’s 50 day simple moving average is $0.44 and its two-hundred day simple moving average is $0.41.

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

Analyst Ratings Changes

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

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.