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

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

Wall Street Analyst Weigh In

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

Galaxy Payroll Group Trading Down 3.0%

The stock’s 50-day simple moving average is $1.33 and its 200 day simple moving average is $1.86.

Galaxy Payroll Group (NASDAQ:GLXG) last issued 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.