Short Interest in Galaxy Payroll Group Limited (NASDAQ:GLXG) Declines By 64.2%

Galaxy Payroll Group Limited (NASDAQ:GLXG) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 91,677 shares, a drop of 64.2% from the June 15th total of 255,974 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 458,317 shares, the days-to-cover ratio is presently 0.2 days.

Galaxy Payroll Group Stock Down 3.8%

Shares of Galaxy Payroll Group stock traded down $0.05 during trading on Wednesday, hitting $1.25. 13,996 shares of the stock were exchanged, compared to its average volume of 1,513,702. The company has a fifty day moving average price of $1.26 and a 200-day moving average price of $1.75. Galaxy Payroll Group has a 1-year low of $0.72 and a 1-year high of $7.59.

Galaxy Payroll Group (NASDAQ:GLXG) last issued its earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $0.90 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Galaxy Payroll Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

About Galaxy Payroll Group

Galaxy Payroll Group, Inc (NASDAQ: GLXG) is a provider of payroll and human capital management services designed for small and mid-sized businesses in the United States. Utilizing a combination of proprietary technology and dedicated payroll professionals, the company delivers solutions aimed at streamlining payroll operations, mitigating compliance risk and reducing administrative workload for its clients.

The company’s service offerings encompass cloud-based payroll processing, automated tax filing and reporting, garnishment administration, and comprehensive compliance management.