Global Engine Group Holding Limited (NASDAQ:GLE) Short Interest Up 110.1% in August

Global Engine Group Holding Limited (NASDAQ:GLE) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 304,469 shares, a growth of 110.1% from the August 15th total of 144,930 shares. Based on an average daily trading volume, of 436,849 shares, the short-interest ratio is currently 0.7 days. Currently, 2.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Global Engine Group from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Global Engine Group Trading Up 0.5%

GLE stock traded up $0.00 during trading on Monday, hitting $0.55. The stock had a trading volume of 131,430 shares, compared to its average volume of 3,571,047. Global Engine Group has a twelve month low of $0.25 and a twelve month high of $1.09. The company’s 50-day moving average price is $0.42 and its two-hundred day moving average price is $0.42.

Institutional Trading of Global Engine Group

An institutional investor recently bought a new stake in Global Engine Group stock. Jane Street Group LLC acquired a new stake in Global Engine Group Holding Limited (NASDAQ:GLE) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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 as of its most recent filing with the SEC.

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.