Creative Global Technology Holdings Limited (NASDAQ:CGTL) Sees Significant Drop in Short Interest

Creative Global Technology Holdings Limited (NASDAQ:CGTL) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 532,961 shares, a drop of 64.1% from the May 31st total of 1,482,563 shares. Based on an average daily trading volume, of 15,729,418 shares, the days-to-cover ratio is currently 0.0 days. Approximately 3.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Creative Global Technology stock. XTX Topco Ltd acquired a new position in shares of Creative Global Technology Holdings Limited (NASDAQ:CGTL) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 44,056 shares of the company’s stock, valued at approximately $52,000. XTX Topco Ltd owned approximately 0.26% of Creative Global Technology as of its most recent SEC filing.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Creative Global Technology from a “hold” rating to a “sell” rating in a research note on Sunday, April 5th. Weiss Ratings lowered Creative Global Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Creative Global Technology Price Performance

CGTL opened at $0.40 on Friday. Creative Global Technology has a 12 month low of $0.15 and a 12 month high of $6.40. The stock has a fifty day moving average price of $0.68 and a 200-day moving average price of $1.55.

Creative Global Technology (NASDAQ:CGTL) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.07 earnings per share for the quarter. The company had revenue of $4.45 million for the quarter.

About Creative Global Technology

Creative Global Technology Holdings Inc (NASDAQ: CGTL) is a China-based provider of advanced electronics manufacturing services specializing in the design and production of semiconductor packaging substrates, printed circuit boards (PCBs) and related back-end assembly solutions. The company’s core capabilities encompass high-density interconnect substrates, leadframe and leadless chip carriers, and system-in-package modules, enabling customers to address the miniaturization and performance demands of modern electronic devices.

CGTL serves a broad spectrum of end markets, including smartphones, tablets, computing devices, automotive electronics, and industrial applications.