GCL Global Holdings Ltd. (NASDAQ:GCL) Short Interest Update

GCL Global Holdings Ltd. (NASDAQ:GCL) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 314,353 shares, an increase of 278.4% from the August 15th total of 83,075 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 908,588 shares, the short-interest ratio is presently 0.3 days.

GCL Global Stock Performance

GCL traded down $0.01 during trading on Monday, hitting $0.60. The company’s stock had a trading volume of 3,353 shares, compared to its average volume of 1,485,777. GCL Global has a one year low of $0.38 and a one year high of $3.17. The business’s 50 day simple moving average is $0.52 and its 200-day simple moving average is $0.53. The company has a quick ratio of 1.13, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The firm has a market cap of $76.93 million, a PE ratio of -30.05 and a beta of 0.39.

GCL Global (NASDAQ:GCL) last released its earnings results on Friday, July 31st. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $70.10 million during the quarter.

GCL Global declared that its board has authorized a stock repurchase plan on Friday, August 28th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to buy up to 11.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded GCL Global from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of GCL Global

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC bought a new stake in GCL Global in the second quarter worth $54,000. Two Sigma Investments LP bought a new stake in GCL Global in the third quarter worth about $42,000. Citadel Advisors LLC boosted its position in shares of GCL Global by 54.4% during the third quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock valued at $139,000 after buying an additional 19,699 shares during the period. Finally, XTX Topco Ltd grew its stake in shares of GCL Global by 361.2% during the fourth quarter. XTX Topco Ltd now owns 48,682 shares of the company’s stock valued at $52,000 after buying an additional 38,127 shares during the last quarter. 36.55% of the stock is currently owned by institutional investors.

GCL Global Company Profile

GCL Global Enterprises, Inc (NASDAQ: GCL) is a U.S.-based provider of residential and commercial restoration, remodeling and reconstruction services. The company specializes in water damage remediation, mold mitigation, fire and smoke damage restoration, storm and disaster recovery, and general contracting work. Through a combination of proprietary processes, licensed technicians and third-party partnerships, GCL Global delivers end-to-end project management from initial assessment through final rebuild.

In addition to its core restoration business, GCL Global offers home improvement and renovation services, including flooring, painting, cabinetry and other remodeling projects.