Short Interest in GCL Global Holdings Ltd. (NASDAQ:GCL) Declines By 34.3%

GCL Global Holdings Ltd. (NASDAQ:GCL) was the target of a large drop in short interest in January. As of January 15th, there was short interest totaling 33,687 shares, a drop of 34.3% from the December 31st total of 51,296 shares. Based on an average trading volume of 41,467 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the company’s stock are short sold. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 41,467 shares, the days-to-cover ratio is presently 0.8 days.

GCL Global Price Performance

Shares of NASDAQ GCL traded up $0.12 during trading on Friday, reaching $1.19. 49,635,974 shares of the stock traded hands, compared to its average volume of 70,002. The company has a 50-day moving average of $1.14 and a 200-day moving average of $2.20. GCL Global has a 52-week low of $1.01 and a 52-week high of $9.89. The stock has a market capitalization of $145.12 million, a P/E ratio of -59.50 and a beta of 0.33.

Hedge Funds Weigh In On GCL Global

Large investors have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new stake in shares of GCL Global during the 3rd quarter valued at $42,000. Geode Capital Management LLC purchased a new stake in shares of GCL Global in the second quarter worth about $54,000. Finally, Citadel Advisors LLC grew its stake in GCL Global by 54.4% during the third quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock valued at $139,000 after acquiring an additional 19,699 shares in the last quarter. 36.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GCL has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of GCL Global in a research note on Thursday, January 22nd. Wall Street Zen cut GCL Global from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.