GCL Global (NASDAQ:GCL) Stock Price Up 1.6% - Should You Buy?

Key Points

• GCL Global shares rose 1.6% to $0.8852, although trading volume was 87% below the stock’s average daily volume.
• Analyst sentiment remains negative: Weiss Ratings improved its rating slightly from “sell (d-)” to “sell (d),” while the overall analyst consensus remains Sell.
• The company reported a quarterly loss of $0.08 per share on $70.1 million in revenue but authorized a $10 million share buyback, potentially repurchasing up to 11.6% of outstanding shares.

Shares of GCL Global Holdings Ltd. (NASDAQ:GCL - Get Free Report) shot up 1.6% during trading on Thursday. The stock traded as high as $0.9065 and last traded at $0.8852. Approximately 21,295 shares traded hands during trading, a decline of 87% from the average daily volume of 166,245 shares. The stock had previously closed at $0.8710.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of GCL Global from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, September 29th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, GCL Global presently has an average rating of "Sell".

GCL Global Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 1.13. The firm has a market capitalization of $113.31 million, a price-to-earnings ratio of 88.52 and a beta of 0.31. The firm's fifty day moving average is $0.72 and its 200 day moving average is $0.63.

GCL Global (NASDAQ:GCL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported ($0.08) EPS for the quarter. The company had revenue of $70.10 million for the quarter.

GCL Global announced that its Board of Directors has initiated a share repurchase plan on Friday, August 28th that authorizes the company to repurchase $10 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 11.6% of its stock through open market purchases. Share buyback plans are typically an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On GCL Global

An institutional investor recently bought a new stake in GCL Global stock. Citadel Advisors LLC purchased a new position in GCL Global Holdings Ltd. (NASDAQ:GCL - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 95,620 shares of the company's stock, valued at approximately $43,000. Citadel Advisors LLC owned about 0.07% of GCL Global at the end of the most recent quarter. Institutional investors and hedge funds own 36.55% of the company's stock.

GCL Global Company Profile

GCL Global Limited is a video game company focused on the publishing, distribution and commercialization of interactive entertainment products. The company works with game developers and publishers to bring video games to consumers through digital storefronts, physical retail channels and other distribution platforms.

Its activities include game localization, marketing, sales and distribution, with an emphasis on adapting products for regional audiences and market conditions. GCL Global serves international markets, including parts of Southeast Asia and other emerging gaming regions, through relationships with content owners, platform operators and retail partners.

The company is headquartered in Singapore and operates as a publicly traded business on the Nasdaq under the symbol GCL.

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