Creative Global Technology Holdings Limited (NASDAQ:CGTL) Sees Large Increase in Short Interest

Creative Global Technology Holdings Limited (NASDAQ:CGTL) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,482,563 shares, a growth of 787.7% from the May 14th total of 167,019 shares. Based on an average daily volume of 14,268,857 shares, the days-to-cover ratio is currently 0.1 days. Approximately 8.6% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

CGTL has been the topic of several research reports. Weiss Ratings upgraded Creative Global Technology from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, June 1st. Wall Street Zen downgraded shares of Creative Global Technology from a “hold” rating to a “sell” rating in a report on Sunday, April 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Creative Global Technology currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Creative Global Technology stock. XTX Topco Ltd purchased a new stake in shares of Creative Global Technology Holdings Limited (NASDAQ:CGTL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 44,056 shares of the company’s stock, valued at approximately $52,000. XTX Topco Ltd owned about 0.26% of Creative Global Technology at the end of the most recent reporting period.

Creative Global Technology Price Performance

Shares of NASDAQ:CGTL traded down $0.04 during midday trading on Thursday, reaching $0.43. The company had a trading volume of 1,219,130 shares, compared to its average volume of 3,657,984. Creative Global Technology has a 1-year low of $0.15 and a 1-year high of $6.40. The business’s 50 day moving average price is $0.87 and its 200 day moving average price is $1.59.

Creative Global Technology (NASDAQ:CGTL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.07 earnings per share for the quarter. The company had revenue of $4.45 million during the quarter.

About Creative Global Technology

Creative Global Technology Holdings Inc (NASDAQ: CGTL) is a China-based provider of advanced electronics manufacturing services specializing in the design and production of semiconductor packaging substrates, printed circuit boards (PCBs) and related back-end assembly solutions. The company’s core capabilities encompass high-density interconnect substrates, leadframe and leadless chip carriers, and system-in-package modules, enabling customers to address the miniaturization and performance demands of modern electronic devices.

CGTL serves a broad spectrum of end markets, including smartphones, tablets, computing devices, automotive electronics, and industrial applications.