Short Interest in Great Elm Group, Inc. (NASDAQ:GEG) Drops By 72.4%

Great Elm Group, Inc. (NASDAQ:GEG) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 13,200 shares, a decline of 72.4% from the December 31st total of 47,900 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 43,500 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Great Elm Group

A hedge fund recently bought a new stake in Great Elm Group stock. Ballentine Partners LLC acquired a new stake in Great Elm Group, Inc. (NASDAQ:GEG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 40,000 shares of the company’s stock, valued at approximately $72,000. Ballentine Partners LLC owned about 0.13% of Great Elm Group at the end of the most recent reporting period. 52.83% of the stock is owned by institutional investors.

Great Elm Group Price Performance

Great Elm Group stock traded up $0.01 during mid-day trading on Wednesday, hitting $1.82. The stock had a trading volume of 1,629 shares, compared to its average volume of 7,213. The firm has a market capitalization of $54.13 million, a P/E ratio of -36.39 and a beta of 0.99. The company has a current ratio of 32.43, a quick ratio of 32.43 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $1.81 and its 200 day moving average is $1.82. Great Elm Group has a one year low of $1.70 and a one year high of $2.12.

Great Elm Group (NASDAQ:GEG) last issued its earnings results on Monday, November 11th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). The company had revenue of $3.99 million for the quarter. Great Elm Group had a negative return on equity of 1.77% and a negative net margin of 6.90%.

About Great Elm Group

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.