Global Engine Group Holding Limited (NASDAQ:GLE) Short Interest Up 72.8% in June

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

Global Engine Group Price Performance

NASDAQ:GLE traded down $0.03 during mid-day trading on Thursday, reaching $0.44. The company’s stock had a trading volume of 17,535 shares, compared to its average volume of 3,665,277. The firm’s fifty day moving average price is $0.44 and its two-hundred day moving average price is $0.41. Global Engine Group has a 12-month low of $0.25 and a 12-month high of $3.89.

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

Analyst Ratings Changes

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

Institutional Trading of Global Engine Group

An institutional investor recently bought a new position in Global Engine Group stock. Jane Street Group LLC bought 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 institutional investor bought 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.

About Global Engine Group

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.