GCL Global Holdings Ltd. (NASDAQ:GCL) Short Interest Up 29.9% in March

GCL Global Holdings Ltd. (NASDAQ:GCL) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 72,367 shares, a growth of 29.9% from the February 26th total of 55,704 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 232,611 shares, the days-to-cover ratio is presently 0.3 days.

GCL Global Trading Up 8.5%

Shares of NASDAQ:GCL traded up $0.05 during trading on Friday, reaching $0.60. The company’s stock had a trading volume of 61,500 shares, compared to its average volume of 145,761. The stock has a market capitalization of $73.61 million, a PE ratio of -30.18 and a beta of 0.44. GCL Global has a 12 month low of $0.47 and a 12 month high of $4.49. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.98. The firm’s 50 day simple moving average is $0.75 and its two-hundred day simple moving average is $1.38.

Hedge Funds Weigh In On GCL Global

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC bought a new position in shares of GCL Global during the 2nd quarter valued at approximately $54,000. Two Sigma Investments LP purchased a new stake in GCL Global during the 3rd quarter valued at $42,000. XTX Topco Ltd raised its holdings in GCL Global by 361.2% during the 4th quarter. XTX Topco Ltd now owns 48,682 shares of the company’s stock valued at $52,000 after buying an additional 38,127 shares during the period. Finally, Citadel Advisors LLC lifted its position in GCL Global by 54.4% in the third quarter. Citadel Advisors LLC now owns 55,939 shares of the company’s stock worth $139,000 after buying an additional 19,699 shares during the last quarter. Hedge funds and other institutional investors own 36.55% of the company’s stock.

Analysts Set New Price Targets

GCL has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GCL Global in a report on Thursday, January 22nd. Wall Street Zen cut shares of GCL Global from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

GCL Global Company Profile

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.