Gloo Holdings (NASDAQ:GLOO) Sees Large Growth in Short Interest

Gloo Holdings (NASDAQ:GLOO) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 421,090 shares, an increase of 206.6% from the May 31st total of 137,338 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 259,254 shares, the short-interest ratio is currently 1.6 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GLOO shares. Benchmark lifted their target price on Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. Finally, Wall Street Zen lowered shares of Gloo from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Insider Activity at Gloo

In other Gloo news, major shareholder Financial For Luthera Thrivent sold 27,859 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $4.59, for a total value of $127,872.81. Following the transaction, the insider owned 4,684,000 shares of the company’s stock, valued at approximately $21,499,560. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Arthur Beck acquired 27,386 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was acquired at an average cost of $7.23 per share, for a total transaction of $198,000.78. Following the transaction, the chief executive officer owned 439,886 shares of the company’s stock, valued at approximately $3,180,375.78. The trade was a 6.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 33,886 shares of company stock valued at $249,834 and sold 123,477 shares valued at $570,957. Corporate insiders own 45.23% of the company’s stock.

Institutional Investors Weigh In On Gloo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grace & Mercy Foundation Inc. bought a new position in Gloo during the fourth quarter worth about $14,225,000. 1492 Capital Management LLC raised 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 valued at $1,451,000 after purchasing an additional 15,824 shares during the period. Waverly Advisors LLC purchased a new stake in shares of Gloo during the 1st quarter valued at approximately $1,202,000. Annandale Capital LLC bought a new position in Gloo in the 4th quarter worth approximately $1,423,000. Finally, Cornerstone Management Inc. bought a new position in Gloo in the 1st quarter worth approximately $601,000.

Gloo Trading Up 3.4%

NASDAQ GLOO traded up $0.15 on Monday, hitting $4.51. 79,902 shares of the stock traded hands, compared to its average volume of 100,647. The stock’s fifty day simple moving average is $5.76. Gloo has a 12 month low of $4.20 and a 12 month high of $9.98.

Gloo (NASDAQ:GLOO) last issued its earnings results on Monday, June 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The business had revenue of $41.53 million during the quarter. Analysts forecast that Gloo will post -0.31 EPS for the current year.

About Gloo

Gloo’s mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives. The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers.