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

Creative Global Technology Holdings Limited (NASDAQ:CGTL) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 26,213 shares, a growth of 462.3% from the August 15th total of 4,662 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average trading volume of 79,360 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on CGTL. Wall Street Zen raised shares of Creative Global Technology to a “sell” rating in a research report on Saturday, July 18th. Weiss Ratings cut shares of Creative Global Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Creative Global Technology

An institutional investor recently bought a new position in Creative Global Technology stock. XTX Topco Ltd acquired a new stake in Creative Global Technology Holdings Limited (NASDAQ:CGTL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 quarter.

Creative Global Technology Trading Down 1.0%

Shares of Creative Global Technology stock traded down $0.04 during trading hours on Friday, hitting $3.99. 1,386 shares of the company’s stock traded hands, compared to its average volume of 321,639. Creative Global Technology has a 12-month low of $2.27 and a 12-month high of $96.00. The company has a fifty day simple moving average of $4.39 and a 200-day simple moving average of $10.99.

Creative Global Technology (NASDAQ:CGTL) last issued its quarterly earnings results on Thursday, September 3rd. The company reported ($1.10) earnings per share for the quarter. The company had revenue of $9.21 million for 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.