Gloo Holdings (NASDAQ:GLOO) Sees Large Increase in Short Interest

Gloo Holdings (NASDAQ:GLOO – Get Free Report) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 810,051 shares, an increase of 161.2% from the September 15th total of 310,142 shares. Based on an average trading volume of 2,314,765 shares, the days-to-cover ratio is presently 0.3 days. Approximately 1.6% of the company’s stock are sold short.

Gloo Trading Down 1.4%

GLOO stock traded down $0.06 during midday trading on Tuesday, hitting $3.75. 163,725 shares of the company’s stock were exchanged, compared to its average volume of 302,585. Gloo has a 1-year low of $2.90 and a 1-year high of $9.98. The business has a 50-day simple moving average of $3.71 and a two-hundred day simple moving average of $4.60. The stock has a market capitalization of $342.78 million and a PE ratio of -0.51. The company has a current ratio of 1.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.21.

Gloo (NASDAQ:GLOO – Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.14). Gloo had a negative return on equity of 1,637.91% and a negative net margin of 81.35%. The business had revenue of $46.57 million for the quarter. On average, sell-side analysts predict that Gloo will post -0.65 EPS for the current fiscal year.

Insider Transactions at Gloo

In other Gloo news, major shareholder Financial For Luthera Thrivent sold 36,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $3.23, for a total transaction of $116,280.00. Following the transaction, the insider directly owned 4,039,000 shares in the company, valued at $13,045,970. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 224,700 shares of company stock worth $751,107. 45.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gloo

A number of hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in Gloo by 263.4% in the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after buying an additional 3,996 shares during the last quarter. Waverly Advisors LLC acquired a new position in shares of Gloo during the 1st quarter worth approximately $1,202,000. 1492 Capital Management LLC grew its holdings in Gloo by 5.5% during the 1st quarter. 1492 Capital Management LLC now owns 301,706 shares of the company’s stock valued at $1,451,000 after buying an additional 15,824 shares during the last quarter. Cornerstone Management Inc. acquired a new position in shares of Gloo in the first quarter worth $601,000. Finally, Grace & Mercy Foundation Inc. purchased a new stake in shares of Gloo in the fourth quarter valued at $14,225,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GLOO. Weiss Ratings downgraded Gloo from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. Wall Street Zen cut Gloo from a “hold” rating to a “sell” rating in a report on Sunday, September 13th. Lake Street Capital decreased their price objective on shares of Gloo from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, September 10th. Citigroup started coverage on shares of Gloo in a research note on Monday, July 20th. They issued an “outperform” rating on the stock. Finally, Citizens Jmp restated a “market outperform” rating and issued a $8.00 target price on shares of Gloo in a research report on Thursday, September 10th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Gloo presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

View Our Latest Research Report on Gloo

Gloo Company Profile

(Get Free Report)

Gloo, Inc (NASDAQ:GLOO) is a technology company focused on supporting faith-based organizations, churches and ministry leaders. Its platform is designed to help organizations strengthen relationships, improve engagement and pursue growth through digital tools, data-driven insights and connected resources.

The company offers technology and services intended to assist with church and ministry operations, leadership development, communications and community-building. Gloo also develops artificial intelligence and other digital solutions aimed at helping faith leaders and organizations access information, guidance and practical tools.

Gloo primarily serves faith-based organizations and leaders in the United States.

See Also

Receive News & Ratings for Gloo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gloo and related companies with MarketBeat.com's FREE daily email newsletter.