Gloo Holdings (NASDAQ:GLOO) Stock Short Interest Climbs 161.2%

Gloo Holdings (NASDAQ:GLOO) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 810,051 shares, a growth of 161.2% from the September 15th total of 310,142 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average trading volume of 2,314,765 shares, the short-interest ratio is presently 0.3 days.

Insider Transactions at Gloo

In other news, major shareholder Financial For Luthera Thrivent sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $3.55, for a total transaction of $56,800.00. Following the completion of the sale, the insider owned 4,023,000 shares in the company, valued at $14,281,650. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 224,700 shares of company stock worth $751,107 in the last three months. Company insiders own 45.23% of the company’s stock.

Hedge Funds Weigh In On Gloo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of Gloo by 263.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after acquiring an additional 3,996 shares during the period. Cornerstone Management Inc. acquired a new stake in shares of Gloo during the 1st quarter worth $601,000. Waverly Advisors LLC bought a new position in shares of Gloo in the first quarter worth $1,202,000. 1492 Capital Management LLC increased its position in shares of Gloo by 5.5% in the first quarter. 1492 Capital Management LLC now owns 301,706 shares of the company’s stock worth $1,451,000 after purchasing an additional 15,824 shares during the period. Finally, Grace & Mercy Foundation Inc. bought a new position in shares of Gloo in the fourth quarter worth $14,225,000.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings cut Gloo from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. Lake Street Capital decreased their price objective on Gloo from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, September 10th. Citizens Jmp reiterated a “market outperform” rating and set a $8.00 price objective on shares of Gloo in a research report on Thursday, September 10th. Wall Street Zen cut Gloo from a “hold” rating to a “sell” rating in a research report on Sunday, September 13th. Finally, Citigroup started coverage on Gloo in a report on Monday, July 20th. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Gloo Stock Performance

Shares of GLOO traded down $0.32 during mid-day trading on Wednesday, hitting $3.43. 686,680 shares of the company’s stock were exchanged, compared to its average volume of 1,557,779. Gloo has a 52 week low of $2.90 and a 52 week high of $9.98. The stock’s 50-day simple moving average is $3.72 and its 200-day simple moving average is $4.58. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 0.21.

Gloo (NASDAQ:GLOO) last issued its quarterly earnings results on Wednesday, September 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.14). The company had revenue of $46.57 million during the quarter. Gloo had a negative net margin of 81.35% and a negative return on equity of 1,637.91%. Research analysts predict that Gloo will post -0.65 earnings per share for the current year.

Gloo Company Profile

Gloo, Inc (NASDAQ:GLOO) is a technology company focused on supporting faith-based organizations, churches and ministry leaders. Its platform is designed to help organizations strengthen relationships, improve engagement and pursue growth through digital tools, data-driven insights and connected resources.

The company offers technology and services intended to assist with church and ministry operations, leadership development, communications and community-building. Gloo also develops artificial intelligence and other digital solutions aimed at helping faith leaders and organizations access information, guidance and practical tools.

Gloo primarily serves faith-based organizations and leaders in the United States.