Galaxy Payroll Group Limited (NASDAQ:GLXG) Sees Large Decrease in Short Interest

Galaxy Payroll Group Limited (NASDAQ:GLXG) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 91,677 shares, a decline of 64.2% from the June 15th total of 255,974 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 458,317 shares, the short-interest ratio is presently 0.2 days.

Galaxy Payroll Group Stock Down 3.1%

Shares of GLXG traded down $0.04 during mid-day trading on Tuesday, hitting $1.26. The company’s stock had a trading volume of 39,812 shares, compared to its average volume of 1,525,069. Galaxy Payroll Group has a 1-year low of $0.72 and a 1-year high of $7.59. The firm has a 50-day simple moving average of $1.26 and a 200 day simple moving average of $1.76.

Galaxy Payroll Group (NASDAQ:GLXG) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $0.90 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Galaxy Payroll Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Galaxy Payroll Group

Galaxy Payroll Group, Inc (NASDAQ: GLXG) is a provider of payroll and human capital management services designed for small and mid-sized businesses in the United States. Utilizing a combination of proprietary technology and dedicated payroll professionals, the company delivers solutions aimed at streamlining payroll operations, mitigating compliance risk and reducing administrative workload for its clients.

The company’s service offerings encompass cloud-based payroll processing, automated tax filing and reporting, garnishment administration, and comprehensive compliance management.