Great Elm Group (NASDAQ:GEG) Shares Down 8.9% – What’s Next?

Great Elm Group, Inc. (NASDAQ:GEG)’s stock price dropped 8.9% during mid-day trading on Tuesday . The company traded as low as $2.15 and last traded at $2.15. Approximately 9,920 shares changed hands during mid-day trading, an increase of 197% from the average session volume of 3,338 shares. The stock had previously closed at $2.36.

Analyst Upgrades and Downgrades

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 MarketBeat, Great Elm Group presently has an average rating of “Sell”.

Great Elm Group Stock Performance

The firm has a market capitalization of $67.42 million, a PE ratio of -2.62 and a beta of 0.57. The company has a quick ratio of 13.18, a current ratio of 13.18 and a debt-to-equity ratio of 1.56. The company has a 50-day moving average of $2.24 and a 200 day moving average of $2.14.

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

Hedge Funds Weigh In On Great Elm Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC bought a new position in shares of Great Elm Group during the third quarter valued at about $158,000. Rockefeller Capital Management L.P. purchased a new stake in Great Elm Group during the 4th quarter valued at about $447,000. Geode Capital Management LLC boosted its holdings in Great Elm Group by 17.1% during 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 during the period. Finally, Goldman Sachs Group Inc. grew its position in Great Elm Group by 2,377.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 919,048 shares of the company’s stock worth $2,344,000 after acquiring an additional 881,955 shares during the last quarter. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

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.