Short Interest in Genelux Co. (NASDAQ:GNLX) Declines By 7.1%

31 Oct 2024, 23:04 by Sarita Garza · The Markets Daily

Genelux Co. (NASDAQ:GNLX – Get Free Report) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,040,000 shares, a decline of 7.1% from the September 30th total of 1,120,000 shares. Based on an average daily volume of 154,200 shares, the short-interest ratio is presently 6.7 days. Approximately 3.8% of the shares of the stock are sold short.

Genelux Price Performance

Shares of NASDAQ:GNLX traded down $0.11 during midday trading on Thursday, reaching $3.22. The company had a trading volume of 138,888 shares, compared to its average volume of 183,818. The stock has a market capitalization of $111.20 million, a P/E ratio of -3.15 and a beta of -1.54. The stock’s fifty day moving average price is $2.48 and its 200-day moving average price is $2.63. Genelux has a one year low of $1.60 and a one year high of $18.01.

Genelux (NASDAQ:GNLX – Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). As a group, sell-side analysts forecast that Genelux will post -0.89 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Aladar Szalay sold 51,630 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $2.11, for a total transaction of $108,939.30. Following the sale, the insider now owns 1,048,191 shares in the company, valued at approximately $2,211,683.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 331,062 shares of company stock worth $736,831 in the last ninety days. Insiders own 9.30% of the company’s stock.

Institutional Investors Weigh In On Genelux

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Genelux during the second quarter worth $39,000. Cubist Systematic Strategies LLC bought a new position in Genelux in the second quarter worth about $56,000. Miracle Mile Advisors LLC acquired a new position in Genelux in the second quarter valued at approximately $58,000. SageView Advisory Group LLC bought a new position in shares of Genelux during the first quarter valued at approximately $121,000. Finally, LifeSteps Financial Inc. raised its position in shares of Genelux by 50.2% during the 2nd quarter. LifeSteps Financial Inc. now owns 66,536 shares of the company’s stock worth $130,000 after purchasing an additional 22,227 shares during the period. 37.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on GNLX shares. Roth Capital raised Genelux to a “strong-buy” rating in a research report on Tuesday, August 27th. Guggenheim started coverage on Genelux in a research report on Tuesday. They set a “buy” rating and a $8.00 price target on the stock. Roth Mkm began coverage on shares of Genelux in a research report on Tuesday, August 27th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $32.00 target price on shares of Genelux in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Genelux currently has a consensus rating of “Buy” and an average target price of $18.75.

Read Our Latest Stock Analysis on GNLX

About Genelux

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