GCL Global Holdings Ltd. (NASDAQ:GCL) Short Interest Update

GCL Global Holdings Ltd. (NASDAQ:GCL) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 314,353 shares, a growth of 278.4% from the August 15th total of 83,075 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 908,588 shares, the days-to-cover ratio is currently 0.3 days.

GCL Global Trading Up 6.2%

NASDAQ:GCL opened at $0.61 on Friday. GCL Global has a 12 month low of $0.38 and a 12 month high of $3.20. The company has a current ratio of 1.52, a quick ratio of 1.13 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $0.52 and its 200 day moving average is $0.53. The stock has a market capitalization of $77.91 million, a PE ratio of -30.43 and a beta of 0.39.

GCL Global (NASDAQ:GCL) last announced its quarterly earnings data on Friday, July 31st. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $70.10 million during the quarter.

GCL Global declared that its Board of Directors has approved a share repurchase plan on Friday, August 28th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GCL. Two Sigma Investments LP bought a new stake in GCL Global in the 3rd quarter valued at about $42,000. Citadel Advisors LLC purchased a new stake in GCL Global during the second quarter valued at about $43,000. XTX Topco Ltd boosted its position in GCL Global by 361.2% during the fourth quarter. XTX Topco Ltd now owns 48,682 shares of the company’s stock worth $52,000 after purchasing an additional 38,127 shares during the period. Finally, Geode Capital Management LLC bought a new position in GCL Global during the second quarter worth about $54,000. Institutional investors own 36.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of GCL Global from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

About GCL Global

GCL Global Enterprises, Inc (NASDAQ: GCL) is a U.S.-based provider of residential and commercial restoration, remodeling and reconstruction services. The company specializes in water damage remediation, mold mitigation, fire and smoke damage restoration, storm and disaster recovery, and general contracting work. Through a combination of proprietary processes, licensed technicians and third-party partnerships, GCL Global delivers end-to-end project management from initial assessment through final rebuild.

In addition to its core restoration business, GCL Global offers home improvement and renovation services, including flooring, painting, cabinetry and other remodeling projects.