Global Engine Group (NASDAQ:GLE) Stock Price Down 8.3% – What’s Next?

Global Engine Group Holding Limited (NASDAQ:GLE)’s stock price was down 8.3% during mid-day trading on Thursday . The stock traded as low as $0.3851 and last traded at $0.3941. Approximately 245,475 shares traded hands during trading, a decline of 26% from the average session volume of 330,499 shares. The stock had previously closed at $0.4298.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Global Engine Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Global Engine Group presently has an average rating of “Sell”.

Global Engine Group Trading Down 8.3%

The firm’s fifty day moving average is $0.44 and its two-hundred day moving average is $0.40.

Global Engine Group (NASDAQ:GLE) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported ($0.02) EPS for the quarter. The business had revenue of $0.45 million for the quarter.

Hedge Funds Weigh In On Global Engine Group

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

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.