Globalink Investment (NASDAQ:GLLI) Trading 2% Higher – Still a Buy?

Globalink Investment Inc. (NASDAQ:GLLI) shot up 2% on Wednesday . The stock traded as high as $12.00 and last traded at $12.00. 4,279 shares traded hands during trading, an increase of 46% from the average session volume of 2,926 shares. The stock had previously closed at $11.77.

Globalink Investment Stock Up 2.0 %

The company has a market cap of $72.12 million and a price-to-earnings ratio of -52.17. The business has a 50-day simple moving average of $11.48 and a two-hundred day simple moving average of $11.36.

Institutional Investors Weigh In On Globalink Investment

An institutional investor recently bought a new position in Globalink Investment stock. K2 Principal Fund L.P. purchased a new stake in Globalink Investment Inc. (NASDAQ:GLLI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 100,000 shares of the company’s stock, valued at approximately $1,134,000. K2 Principal Fund L.P. owned 1.66% of Globalink Investment as of its most recent SEC filing. Institutional investors and hedge funds own 27.90% of the company’s stock.

Globalink Investment Company Profile

Globalink Investment Inc does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to identify and acquire businesses in the medical technology and green energy sectors in North America, Europe, Southeast Asia, and Asia excluding China, Hong Kong, and Macau.