Global Engine Group Holding Limited (NASDAQ:GLE – Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 304,469 shares, an increase of 110.1% from the August 15th total of 144,930 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average daily trading volume, of 436,849 shares, the short-interest ratio is currently 0.7 days.
Global Engine Group Trading Up 12.5%
GLE stock traded up $0.07 during midday trading on Tuesday, reaching $0.60. The stock had a trading volume of 358,079 shares, compared to its average volume of 3,552,804. The company’s fifty day simple moving average is $0.42 and its 200 day simple moving average is $0.42. Global Engine Group has a 52-week low of $0.25 and a 52-week high of $1.09.
Analyst Upgrades and Downgrades
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 analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.
About Global Engine Group
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.
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