Galaxy Payroll Group (NASDAQ:GLXG) Stock Price Down 6.4% – Here’s What Happened

Shares of Galaxy Payroll Group Limited (NASDAQ:GLXG) were down 6.4% on Wednesday . The company traded as low as $1.22 and last traded at $1.31. 116,886 shares were traded during mid-day trading, a decline of 99% from the average session volume of 9,636,238 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Galaxy Payroll Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Galaxy Payroll Group Stock Down 6.4%

The company has a fifty day simple moving average of $1.35 and a two-hundred day simple moving average of $1.87.

Galaxy Payroll Group (NASDAQ:GLXG) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $0.90 million for the quarter.

About Galaxy Payroll Group

Galaxy Payroll Group, Inc (NASDAQ: GLXG) is a provider of payroll and human capital management services designed for small and mid-sized businesses in the United States. Utilizing a combination of proprietary technology and dedicated payroll professionals, the company delivers solutions aimed at streamlining payroll operations, mitigating compliance risk and reducing administrative workload for its clients.

The company’s service offerings encompass cloud-based payroll processing, automated tax filing and reporting, garnishment administration, and comprehensive compliance management.