GEE Group (NYSE:JOB) Stock Price Up 2,948.2% – Still a Buy?

GEE Group Inc. (NYSE:JOB) shares shot up 2,948.2% during mid-day trading on Tuesday. The stock traded as high as $5.98 and last traded at $5.9410. 1,538 shares traded hands during trading, a decline of 100% from the average session volume of 619,858 shares. The stock had previously closed at $0.1949.

GEE Group Stock Up 4.6%

The firm has a fifty day moving average of $0.22 and a 200-day moving average of $0.23. The firm has a market cap of $672.19 million, a P/E ratio of -27.00 and a beta of 0.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Raffles Associates LP acquired a new stake in GEE Group in the 2nd quarter valued at about $1,974,000. Cable Car Capital LP acquired a new position in GEE Group during the second quarter worth approximately $1,451,000. Renaissance Technologies LLC raised its stake in GEE Group by 64.7% in the first quarter. Renaissance Technologies LLC now owns 1,288,926 shares of the company’s stock valued at $309,000 after buying an additional 506,185 shares during the period. Arete Wealth Advisors LLC bought a new stake in GEE Group in the first quarter valued at approximately $208,000. Finally, NewEdge Advisors LLC bought a new stake in GEE Group in the first quarter valued at approximately $121,000. 30.38% of the stock is currently owned by institutional investors and hedge funds.

About GEE Group

GEE Group Inc is a staffing and workforce solutions company that provides professional, commercial and industrial employment services in the United States. The company helps employers recruit and retain personnel while connecting job seekers with temporary, contract and direct-hire opportunities.

Its services include temporary and contract staffing, contract-to-hire placements, direct placement and executive recruitment. GEE Group serves a range of industries and occupational categories, including information technology, accounting and finance, engineering, healthcare, office and administrative support, light industrial work and other professional fields.

The company traces its history to 1893 and previously operated under the name General Employment Enterprises, Inc It adopted the GEE Group name in 2016.