Short Interest in Gloo Holdings (NASDAQ:GLOO) Decreases By 56.8%

Gloo Holdings (NASDAQ:GLOO) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 96,258 shares, a decrease of 56.8% from the April 15th total of 222,684 shares. Based on an average daily trading volume, of 111,496 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.1% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GLOO. Roth Mkm reissued a “buy” rating on shares of Gloo in a research report on Thursday, January 29th. Wall Street Zen raised Gloo from a “sell” rating to a “hold” rating in a research report on Sunday, April 26th. Finally, Weiss Ratings raised Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Insider Buying and Selling at Gloo

In other news, CEO Scott Arthur Beck bought 3,700 shares of the stock in a transaction on Friday, April 17th. The stock was acquired at an average cost of $7.97 per share, for a total transaction of $29,489.00. Following the acquisition, the chief executive officer owned 443,586 shares of the company’s stock, valued at $3,535,380.42. This represents a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders acquired 33,886 shares of company stock valued at $249,834.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Grace & Mercy Foundation Inc. acquired a new position in Gloo during the 4th quarter valued at about $14,225,000. 1492 Capital Management LLC increased its position in Gloo by 5.5% during the 1st quarter. 1492 Capital Management LLC now owns 301,706 shares of the company’s stock valued at $1,451,000 after buying an additional 15,824 shares in the last quarter. Waverly Advisors LLC acquired a new position in Gloo during the 1st quarter valued at about $1,202,000. Annandale Capital LLC acquired a new position in Gloo during the 4th quarter valued at about $1,423,000. Finally, Cornerstone Management Inc. acquired a new position in Gloo during the 1st quarter valued at about $601,000.

Gloo Trading Down 1.6%

Shares of GLOO traded down $0.10 during trading hours on Friday, hitting $5.99. The company had a trading volume of 14,634 shares, compared to its average volume of 82,279. Gloo has a one year low of $4.63 and a one year high of $9.98. The business’s fifty day moving average price is $6.06.

Gloo (NASDAQ:GLOO) last announced its earnings results on Tuesday, April 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.47). The company had revenue of $33.63 million during the quarter, compared to the consensus estimate of $31.98 million. On average, equities research analysts forecast that Gloo will post -0.31 EPS for the current year.

About Gloo

Gloo’s mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives. The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers.