GCL Global Holdings Ltd. (NASDAQ:GCL) Sees Significant Decline in Short Interest

GCL Global Holdings Ltd. (NASDAQ:GCL) saw a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 55,704 shares, a decrease of 40.1% from the February 12th total of 93,043 shares. Based on an average daily trading volume, of 54,920 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 54,920 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On GCL Global

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC acquired a new position in shares of GCL Global in the 2nd quarter valued at $54,000. Two Sigma Investments LP acquired a new stake in GCL Global during the third quarter valued at $42,000. XTX Topco Ltd increased its holdings in GCL Global by 361.2% in the fourth quarter. XTX Topco Ltd now owns 48,682 shares of the company’s stock valued at $52,000 after buying an additional 38,127 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of GCL Global by 54.4% in the third quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock worth $139,000 after acquiring an additional 19,699 shares during the period. 36.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on GCL shares. Weiss Ratings restated a “sell (d)” rating on shares of GCL Global in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of GCL Global from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

GCL Global Stock Performance

GCL Global stock traded down $0.05 during midday trading on Friday, hitting $0.65. 41,484 shares of the company were exchanged, compared to its average volume of 147,983. The business has a fifty day simple moving average of $0.84 and a two-hundred day simple moving average of $1.57. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.84 and a current ratio of 1.31. The firm has a market capitalization of $79.27 million, a PE ratio of -32.50 and a beta of 0.44. GCL Global has a fifty-two week low of $0.47 and a fifty-two week high of $4.49.

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.