Short Interest in Global Engine Group Holding Limited (NASDAQ:GLE) Grows By 72.8%

Global Engine Group Holding Limited (NASDAQ:GLE) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 235,972 shares, a growth of 72.8% from the May 31st total of 136,522 shares. Based on an average daily volume of 15,990,457 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Global Engine Group stock. Jane Street Group LLC acquired a new stake in shares of Global Engine Group Holding Limited (NASDAQ:GLE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 50,445 shares of the company’s stock, valued at approximately $77,000. Jane Street Group LLC owned 0.28% of Global Engine Group at the end of the most recent quarter.

Global Engine Group Stock Performance

Shares of GLE opened at $0.43 on Friday. The firm has a fifty day simple moving average of $0.44 and a two-hundred day simple moving average of $0.41. Global Engine Group has a 1-year low of $0.25 and a 1-year high of $3.89.

Global Engine Group (NASDAQ:GLE) last released its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $0.45 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised Global Engine Group from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Global Engine Group has a consensus rating of “Sell”.

Global Engine Group Company Profile

Global Engine Group, Inc operates as a specialty distributor in the automotive aftermarket, offering a comprehensive range of new and remanufactured engine blocks, cylinder heads, transmission cases and related components. Through its two principal subsidiaries, MAM Distributors and Brenner Distributing, the company supplies replacement powertrain parts to independent repair shops, national service chains and regional distributors across North America. By centralizing procurement, remanufacturing and distribution processes, Global Engine Group aims to provide consistent quality and rapid fulfillment to its customers.

The company was formed through the combination of Brenner Distributing, known for its remanufacturing capabilities, and MAM Distributors, a large-scale parts distributor.