Great Elm Group (NASDAQ:GEG) Stock Price Down 8.9% - What's Next?

Key Points

• Great Elm Group shares fell 8.9% to $2.15 on Tuesday, while trading volume rose 197% above the average daily volume.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock from “sell (d)” to “sell (d-),” and MarketBeat reports an average rating of “Sell.”
• The company reported a quarterly loss of $0.45 per share on $3.42 million in revenue, alongside a negative net margin of 100.48% and negative return on equity of 54.63%; institutional investors own 52.83% of shares.

Great Elm Group, Inc. (NASDAQ:GEG - Get Free Report)'s stock price dropped 8.9% on Tuesday . The stock traded as low as $2.15 and last traded at $2.15. Approximately 9,920 shares traded hands during trading, an increase of 197% from the average daily volume of 3,338 shares. The stock had previously closed at $2.36.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Great Elm Group from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

Great Elm Group Price Performance

The company's 50-day moving average is $2.24 and its two-hundred day moving average is $2.14. The firm has a market cap of $67.42 million, a P/E ratio of -2.62 and a beta of 0.57. The company has a debt-to-equity ratio of 1.56, a current ratio of 13.18 and a quick ratio of 13.18.

Great Elm Group (NASDAQ:GEG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.45) earnings per share for the quarter. Great Elm Group had a negative net margin of 100.48% and a negative return on equity of 54.63%. The business had revenue of $3.42 million during the quarter.

Institutional Investors Weigh In On Great Elm Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Great Elm Group by 2,377.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 919,048 shares of the company's stock worth $2,344,000 after buying an additional 881,955 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Great Elm Group in the fourth quarter valued at about $447,000. Millennium Management LLC bought a new position in shares of Great Elm Group during the 3rd quarter valued at approximately $158,000. Finally, Geode Capital Management LLC increased its stake in shares of Great Elm Group by 17.1% during the 4th quarter. Geode Capital Management LLC now owns 180,866 shares of the company's stock worth $461,000 after purchasing an additional 26,460 shares during the last quarter. Institutional investors own 52.83% of the company's stock.

Great Elm Group Company Profile

Great Elm Group NASDAQ: GEG is a closed-end investment company specializing in private credit and equity co-investments for U.S. middle-market companies. The firm's portfolio is composed primarily of senior secured loans, unitranche financing structures and selective equity interests, with an emphasis on providing flexible capital solutions for growth initiatives, refinancings, acquisitions and recapitalizations.

Through a disciplined underwriting process, Great Elm Group evaluates opportunities across a diverse range of industry sectors, including healthcare, business services, manufacturing and consumer products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source