Globalink Investment (NASDAQ:GLLI) Stock Price Up 8.5% – Here’s Why

Globalink Investment Inc. (NASDAQ:GLLI) shares traded up 8.5% on Monday . The company traded as high as $11.77 and last traded at $11.77. 800 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 8,748 shares. The stock had previously closed at $10.85.

Globalink Investment Trading Up 8.5 %

The stock’s 50-day moving average price is $11.36 and its two-hundred day moving average price is $11.31. The stock has a market capitalization of $70.71 million, a P/E ratio of -51.17 and a beta of 0.01.

Hedge Funds Weigh In On Globalink Investment

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC grew its stake in shares of Globalink Investment by 1.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 222,619 shares of the company’s stock worth $2,524,000 after acquiring an additional 2,494 shares during the period. Clear Street LLC raised its position in shares of Globalink Investment by 2,250.8% in the second quarter. Clear Street LLC now owns 19,982 shares of the company’s stock valued at $227,000 after purchasing an additional 19,132 shares during the period. Cowen AND Company LLC lifted its stake in shares of Globalink Investment by 85.0% during the 2nd quarter. Cowen AND Company LLC now owns 126,746 shares of the company’s stock valued at $1,439,000 after buying an additional 58,229 shares in the last quarter. Finally, K2 Principal Fund L.P. purchased a new position in Globalink Investment in the 3rd quarter valued at approximately $1,134,000. 27.90% of the stock is owned by institutional investors.

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.