Great Elm Group, Inc. (NASDAQ:GEG) Sees Large Growth in Short Interest

Great Elm Group, Inc. (NASDAQ:GEG) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 33,700 shares, a growth of 24.8% from the June 30th total of 27,000 shares. Based on an average daily volume of 31,900 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.1% of the company’s stock are short sold.

Insider Transactions at Great Elm Group

In other news, Director Matthew A. Drapkin acquired 20,001 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was bought at an average price of $1.76 per share, with a total value of $35,201.76. Following the completion of the acquisition, the director now directly owns 1,958,675 shares of the company’s stock, valued at approximately $3,447,268. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jason W. Reese acquired 24,984 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $1.77 per share, with a total value of $44,221.68. Following the completion of the acquisition, the insider now directly owns 6,354,630 shares of the company’s stock, valued at approximately $11,247,695.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew A. Drapkin acquired 20,001 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was purchased at an average cost of $1.76 per share, with a total value of $35,201.76. Following the acquisition, the director now directly owns 1,958,675 shares of the company’s stock, valued at $3,447,268. The disclosure for this purchase can be found here. Insiders acquired 52,041 shares of company stock worth $91,828 over the last quarter. 43.40% of the stock is currently owned by insiders.

Institutional Trading of Great Elm Group

Hedge funds have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. grew its holdings in Great Elm Group by 31.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 50,868 shares of the company’s stock valued at $98,000 after purchasing an additional 12,265 shares during the period. Clayton Partners LLC boosted its stake in shares of Great Elm Group by 7.5% in the fourth quarter. Clayton Partners LLC now owns 348,994 shares of the company’s stock worth $677,000 after acquiring an additional 24,204 shares during the period. Cove Street Capital LLC boosted its stake in shares of Great Elm Group by 1.3% in the fourth quarter. Cove Street Capital LLC now owns 1,021,646 shares of the company’s stock worth $1,982,000 after acquiring an additional 13,200 shares during the period. Finally, Kingdon Capital Management L.L.C. boosted its stake in shares of Great Elm Group by 0.7% in the fourth quarter. Kingdon Capital Management L.L.C. now owns 1,388,907 shares of the company’s stock worth $2,694,000 after acquiring an additional 9,858 shares during the period. Institutional investors own 52.83% of the company’s stock.

Great Elm Group Price Performance

NASDAQ:GEG traded up $0.01 during mid-day trading on Friday, hitting $1.79. 542 shares of the company traded hands, compared to its average volume of 7,672. The stock’s fifty day moving average price is $1.78 and its 200-day moving average price is $1.86. Great Elm Group has a one year low of $1.59 and a one year high of $2.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 12.44 and a current ratio of 12.44.

Great Elm Group (NASDAQ:GEG) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.10) earnings per share (EPS) for the quarter. Great Elm Group had a negative net margin of 48.75% and a negative return on equity of 8.39%. The company had revenue of $2.79 million for the quarter.

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.