GCL Global (NASDAQ:GCL) Trading Down 11.8% – Here’s What Happened

GCL Global Holdings Ltd. (NASDAQ:GCL)’s stock price traded down 11.8% during trading on Wednesday . The stock traded as low as $0.45 and last traded at $0.4584. 455,527 shares were traded during mid-day trading, a decline of 95% from the average session volume of 8,421,614 shares. The stock had previously closed at $0.52.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GCL Global in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

GCL Global Stock Performance

The firm has a fifty day simple moving average of $0.55 and a 200-day simple moving average of $0.82. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On GCL Global

Several hedge funds have recently made changes to their positions in GCL. XTX Topco Ltd grew its holdings in shares of 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 last quarter. Citadel Advisors LLC grew its holdings in shares of GCL Global by 54.4% during the third quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock worth $139,000 after purchasing an additional 19,699 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of GCL Global during the third quarter worth about $42,000. Finally, Geode Capital Management LLC purchased a new position in shares of GCL Global during the second quarter worth about $54,000. Hedge funds and other institutional investors own 36.55% of the company’s stock.

GCL Global Company Profile

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.