Gloo (NASDAQ:GLOO) Stock Price Up 7.9% – Here’s Why

Gloo Holdings (NASDAQ:GLOO)’s share price was up 7.9% during mid-day trading on Wednesday . The company traded as high as $6.44 and last traded at $6.3350. Approximately 29,256 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 65,176 shares. The stock had previously closed at $5.87.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GLOO shares. Weiss Ratings started coverage on Gloo in a research report on Thursday, February 12th. They set a “sell (e-)” rating for the company. Wall Street Zen upgraded shares of Gloo from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Roth Mkm restated a “buy” rating on shares of Gloo in a report on Thursday, January 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Gloo Price Performance

Gloo (NASDAQ:GLOO) last issued its quarterly earnings results on Tuesday, December 23rd. The company reported ($6.08) EPS for the quarter. The company had revenue of $32.55 million during the quarter.

Hedge Funds Weigh In On Gloo

Several hedge funds and other institutional investors have recently made changes to their positions in GLOO. Jane Street Group LLC bought a new stake in Gloo during the fourth quarter worth $82,000. Beacon Pointe Advisors LLC acquired a new stake in Gloo in the fourth quarter valued at $142,000. Marshall Wace LLP bought a new position in shares of Gloo in the 4th quarter valued at about $173,000. HRT Financial LP acquired a new position in shares of Gloo during the 4th quarter worth about $179,000. Finally, Millennium Management LLC bought a new stake in shares of Gloo in the 4th quarter valued at about $402,000.

Gloo Company Profile

Gloo’s mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives. The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers.