Creative Global Technology Holdings Limited (NASDAQ:CGTL) Stock Short Interest Declines 60.7%

Creative Global Technology Holdings Limited (NASDAQ:CGTL) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 3,063 shares, a decline of 60.7% from the September 30th total of 7,800 shares. Based on an average daily trading volume, of 14,956 shares, the short-interest ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Creative Global Technology stock. Renaissance Technologies LLC acquired a new stake in Creative Global Technology Holdings Limited (NASDAQ:CGTL) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 111,359 shares of the company’s stock, valued at approximately $118,000. Renaissance Technologies LLC owned about 0.65% of Creative Global Technology at the end of the most recent reporting period.

Analysts Set New Price Targets

Several brokerages recently weighed in on CGTL. Weiss Ratings downgraded Creative Global Technology from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, September 10th. Wall Street Zen upgraded Creative Global Technology to a “sell” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, Creative Global Technology has an average rating of “Sell”.

Creative Global Technology Trading Up 1.6%

Shares of NASDAQ CGTL traded up $0.04 during mid-day trading on Friday, hitting $2.49. 6,037 shares of the stock traded hands, compared to its average volume of 13,360. Creative Global Technology has a twelve month low of $2.27 and a twelve month high of $96.00. The firm has a 50 day simple moving average of $3.67 and a two-hundred day simple moving average of $15.28.

Creative Global Technology (NASDAQ:CGTL) last issued its earnings results on Thursday, September 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter. The business had revenue of $9.21 million during the quarter.

Creative Global Technology Company Profile

Creative Global Technology Limited (NASDAQ: CGTL) is a Hong Kong-based company engaged in the trading and recycling of electronic components. Its business focuses on sourcing, processing, and reselling electronic parts, including used or surplus components, to customers in the electronics supply chain.

The company’s activities include electronic-component recycling and supply-chain services designed to recover value from excess, obsolete, or otherwise unwanted inventory. It also trades electronic components for use by manufacturers, distributors, and other businesses that require parts for production or resale.

Creative Global Technology serves customers through its operations in Hong Kong and related international electronics markets.