Great Elm Group, Inc. (NASDAQ:GEG) Sees Large Growth in Short Interest

Great Elm Group, Inc. (NASDAQ:GEG) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 33,700 shares, a growth of 24.8% from the June 30th total of 27,000 shares. Based on an average trading volume of 31,900 shares, the short-interest ratio is currently 1.1 days. Currently, 0.1% of the shares of the company are sold short.

Great Elm Group Trading Up 0.6 %

Shares of NASDAQ GEG traded up $0.01 during trading on Friday, reaching $1.79. 542 shares of the company traded hands, compared to its average volume of 7,672. The firm’s fifty day simple moving average is $1.78 and its 200 day simple moving average is $1.86. Great Elm Group has a 12-month low of $1.59 and a 12-month high of $2.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 12.44 and a current ratio of 12.44.

Great Elm Group (NASDAQ:GEG) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.10) earnings per share for the quarter. The company had revenue of $2.79 million for the quarter. Great Elm Group had a negative net margin of 48.75% and a negative return on equity of 8.39%.

Insider Buying and Selling

In other news, Director Matthew A. Drapkin bought 20,001 shares of Great Elm Group stock in a transaction that occurred on Wednesday, May 22nd. The stock was bought at an average price of $1.76 per share, for a total transaction of $35,201.76. Following the purchase, the director now directly owns 1,958,675 shares of the company’s stock, valued at approximately $3,447,268. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jason W. Reese acquired 24,984 shares of Great Elm Group stock in a transaction on Tuesday, May 21st. The stock was acquired at an average price of $1.77 per share, for a total transaction of $44,221.68. Following the purchase, the insider now owns 6,354,630 shares of the company’s stock, valued at approximately $11,247,695.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew A. Drapkin acquired 20,001 shares of Great Elm Group stock in a transaction on Wednesday, May 22nd. The shares were bought at an average price of $1.76 per share, with a total value of $35,201.76. Following the purchase, the director now directly owns 1,958,675 shares in the company, valued at approximately $3,447,268. The disclosure for this purchase can be found here. Insiders bought 52,041 shares of company stock worth $91,828 in the last 90 days. Insiders own 43.40% of the company’s stock.

Hedge Funds Weigh In On Great Elm Group

Institutional investors have recently modified their holdings of the stock. Kingdon Capital Management L.L.C. grew its position in shares of Great Elm Group by 0.7% during the 4th quarter. Kingdon Capital Management L.L.C. now owns 1,388,907 shares of the company’s stock valued at $2,694,000 after acquiring an additional 9,858 shares during the period. Cove Street Capital LLC grew its position in shares of Great Elm Group by 1.3% during the 4th quarter. Cove Street Capital LLC now owns 1,021,646 shares of the company’s stock valued at $1,982,000 after acquiring an additional 13,200 shares during the period. Clayton Partners LLC grew its position in shares of Great Elm Group by 7.5% during the 4th quarter. Clayton Partners LLC now owns 348,994 shares of the company’s stock valued at $677,000 after acquiring an additional 24,204 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Great Elm Group by 31.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 50,868 shares of the company’s stock valued at $98,000 after acquiring an additional 12,265 shares during the period. Hedge funds and other institutional investors own 52.83% of the company’s stock.

Great Elm Group Company Profile

Great Elm Group, Inc operates as a asset management company. The company engages in credit, real estate, and finance businesses. It is also involved in business development related activities and offers investment management services. The company was formerly known as Great Elm Capital Group, Inc and changed its name to Great Elm Group, Inc in December 2020.