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

Creative Global Technology Holdings Limited (NASDAQ:CGTL) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 3,063 shares, a drop of 60.7% from the September 30th total of 7,800 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 14,956 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Creative Global Technology

A hedge fund recently bought a new position in Creative Global Technology stock. Renaissance Technologies LLC purchased a new stake in shares of Creative Global Technology Holdings Limited (NASDAQ:CGTL) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 111,359 shares of the company’s stock, valued at approximately $118,000. Renaissance Technologies LLC owned approximately 0.65% of Creative Global Technology at the end of the most recent quarter.

Creative Global Technology Stock Up 1.6%

Shares of Creative Global Technology stock traded up $0.04 on Friday, hitting $2.49. The company had a trading volume of 6,037 shares, compared to its average volume of 271,274. The stock has a 50-day moving average of $3.71 and a 200-day moving average of $15.46. Creative Global Technology has a twelve month low of $2.27 and a twelve month high of $96.00.

Creative Global Technology (NASDAQ:CGTL) last posted its quarterly earnings results on Thursday, September 3rd. The company reported ($1.10) EPS for the quarter. The firm had revenue of $9.21 million during the quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CGTL. Wall Street Zen upgraded Creative Global Technology to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings downgraded shares of Creative Global Technology from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Creative Global Technology presently has a consensus rating of “Sell”.

Creative Global Technology Company Profile

Creative Global Technology Limited (NASDAQ: CGTL) is a Hong Kong-based company engaged in the trading and recycling of electronic components. Its business focuses on sourcing, processing, and reselling electronic parts, including used or surplus components, to customers in the electronics supply chain.

The company’s activities include electronic-component recycling and supply-chain services designed to recover value from excess, obsolete, or otherwise unwanted inventory. It also trades electronic components for use by manufacturers, distributors, and other businesses that require parts for production or resale.

Creative Global Technology serves customers through its operations in Hong Kong and related international electronics markets.