Global Engine Group (NASDAQ:GLE) Stock Price Down 1.6% – Here’s Why

Global Engine Group Holding Limited (NASDAQ:GLE) shares traded down 1.6% during mid-day trading on Friday . The company traded as low as $0.4299 and last traded at $0.43. 27,520 shares traded hands during trading, a decline of 65% from the average session volume of 79,533 shares. The stock had previously closed at $0.4370.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Global Engine Group in a report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Global Engine Group Trading Down 1.6%

The business’s 50-day simple moving average is $0.56 and its 200 day simple moving average is $1.15.

Global Engine Group (NASDAQ:GLE) last released its quarterly earnings data on Tuesday, October 21st. The company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $0.24 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Global Engine Group stock. XTX Topco Ltd acquired a new stake in shares of Global Engine Group Holding Limited (NASDAQ:GLE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,767 shares of the company’s stock, valued at approximately $29,000. XTX Topco Ltd owned about 0.10% of Global Engine Group at the end of the most recent reporting period.

About Global Engine Group

Global Engine Group Holding Limited provides integrated solutions in the information communication technologies (ICT), system integration, and other technical consultation service areas in Hong Kong. The company offers ICT solution services, including cloud platform deployment, IT system design, configuration, maintenance, and data center colocation and cloud services; technical services, such as technical development, support, and outsourcing services for data center and cloud computing infrastructure, mobility and fixed network communications, and Internet-of-things (IoT) projects; and project management services.