Global Engine Group Holding Limited (NASDAQ:GLE) Sees Large Drop in Short Interest

Global Engine Group Holding Limited (NASDAQ:GLE) saw a large decline in short interest in December. As of December 15th, there was short interest totaling 76,846 shares, a decline of 61.0% from the November 30th total of 196,956 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 54,307 shares, the days-to-cover ratio is presently 1.4 days. Based on an average trading volume of 54,307 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Global Engine Group in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Global Engine Group has a consensus rating of “Sell”.

Global Engine Group Stock Performance

GLE traded down $0.03 during midday trading on Friday, reaching $0.46. 36,153 shares of the company were exchanged, compared to its average volume of 1,224,764. Global Engine Group has a one year low of $0.37 and a one year high of $3.89. The company’s fifty day moving average price is $0.52 and its 200 day moving average price is $1.02.

Global Engine Group (NASDAQ:GLE) last announced its earnings results on Tuesday, October 21st. The company reported ($0.13) EPS for the quarter. The firm had revenue of $0.24 million for the quarter.

Hedge Funds Weigh In On Global Engine Group

A hedge fund recently bought a new stake in Global Engine Group stock. Jane Street Group LLC bought a new stake in Global Engine Group Holding Limited (NASDAQ:GLE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,445 shares of the company’s stock, valued at approximately $77,000. Jane Street Group LLC owned 0.28% of Global Engine Group at the end of the most recent reporting period.

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.