YY Group Stock Set to Reverse Split on Tuesday, June 23rd (NASDAQ:YYGH)

Shares of YY Group Holding Limited (NASDAQ:YYGH) are scheduled to reverse split on the morning of Tuesday, June 23rd. The 1-30 reverse split was announced on Thursday, June 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 22nd.

YY Group Trading Down 37.7%

Shares of YYGH opened at $0.08 on Friday. YY Group has a 52 week low of $0.07 and a 52 week high of $172.50. The stock’s 50-day moving average price is $0.80 and its 200-day moving average price is $5.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.90 and a current ratio of 0.90.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on YYGH. Wall Street Zen raised YY Group to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings cut shares of YY Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Insider Activity

In other news, major shareholder Financial Lp Hrt bought 555,884 shares of the stock in a transaction dated Wednesday, June 17th. The shares were acquired at an average cost of $0.13 per share, with a total value of $72,264.92. Following the purchase, the insider directly owned 2,776,970 shares in the company, valued at $361,006.10. The trade was a 25.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On YY Group

A hedge fund recently bought a new stake in YY Group stock. Jane Street Group LLC purchased a new position in YY Group Holding Limited (NASDAQ:YYGH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,089 shares of the company’s stock, valued at approximately $27,000.

About YY Group

YY Group Holding Limited, a data and technology driven company, provides manpower outsourcing and cleaning services in Singapore and Malaysia. Its cleaning services include commercial cleaning for offices and schools; hospitality cleaning for hotels and shopping centers; industrial cleaning, facade cleaning, disinfection, and stewarding services for meetings, incentives, conferences, and exhibitions, as well as banquets; and pest control services. The company also offers cleaning robots and machines to enhance cleaning performance by deploying them at designated premises.