Short Interest in GCL Global Holdings Ltd. (NASDAQ:GCL) Declines By 55.1%

GCL Global Holdings Ltd. (NASDAQ:GCL) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 83,807 shares, a decline of 55.1% from the July 15th total of 186,814 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 144,264 shares, the short-interest ratio is presently 0.6 days.

GCL Global Trading Up 8.6%

Shares of NASDAQ GCL traded up $0.04 during midday trading on Friday, reaching $0.52. The stock had a trading volume of 488,176 shares, compared to its average volume of 818,691. GCL Global has a twelve month low of $0.38 and a twelve month high of $3.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.13 and a current ratio of 1.52. The company’s 50 day moving average price is $0.45 and its 200 day moving average price is $0.57. The firm has a market cap of $67.10 million, a price-to-earnings ratio of -26.21 and a beta of 0.36.

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

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of GCL Global from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On GCL Global

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd increased its position in GCL Global by 361.2% in the 4th 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 in the last quarter. Citadel Advisors LLC lifted its holdings in shares of GCL Global by 54.4% in the 3rd quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock worth $139,000 after purchasing an additional 19,699 shares in the last quarter. Two Sigma Investments LP acquired a new stake in GCL Global in the 3rd quarter valued at $42,000. Finally, Geode Capital Management LLC bought a new stake in GCL Global during the 2nd quarter valued at $54,000. 36.55% of the stock is currently owned by institutional investors and hedge funds.

About GCL Global

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.