Great Elm Group (NASDAQ:GEG) Shares Down 1.6% – Here’s What Happened

Shares of Great Elm Group, Inc. (NASDAQ:GEG) fell 1.6% during mid-day trading on Tuesday . The company traded as low as $1.85 and last traded at $1.87. 20,361 shares changed hands during trading, a decline of 67% from the average session volume of 62,463 shares. The stock had previously closed at $1.90.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Great Elm Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Great Elm Group Trading Down 1.6%

The stock’s 50-day simple moving average is $2.05 and its two-hundred day simple moving average is $2.36. The company has a debt-to-equity ratio of 1.04, a current ratio of 10.32 and a quick ratio of 10.32. The firm has a market capitalization of $61.22 million, a P/E ratio of -3.46 and a beta of 0.45.

Great Elm Group (NASDAQ:GEG) last announced its quarterly earnings data on Wednesday, February 4th. The company reported ($0.50) earnings per share (EPS) for the quarter. The firm had revenue of $3.01 million during the quarter. Great Elm Group had a negative return on equity of 37.04% and a negative net margin of 60.61%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in Great Elm Group in the 3rd quarter worth approximately $158,000. Rockefeller Capital Management L.P. bought a new stake in shares of Great Elm Group during the fourth quarter valued at approximately $447,000. Geode Capital Management LLC lifted its holdings in shares of Great Elm Group by 17.1% in the fourth quarter. Geode Capital Management LLC now owns 180,866 shares of the company’s stock worth $461,000 after buying an additional 26,460 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Great Elm Group by 2,377.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 919,048 shares of the company’s stock worth $2,344,000 after buying an additional 881,955 shares in the last quarter. 52.83% of the stock is owned by hedge funds and other institutional investors.

About Great Elm Group

Great Elm Group (NASDAQ: GEG) is a closed-end investment company specializing in private credit and equity co-investments for U.S. middle-market companies. The firm’s portfolio is composed primarily of senior secured loans, unitranche financing structures and selective equity interests, with an emphasis on providing flexible capital solutions for growth initiatives, refinancings, acquisitions and recapitalizations.

Through a disciplined underwriting process, Great Elm Group evaluates opportunities across a diverse range of industry sectors, including healthcare, business services, manufacturing and consumer products.