Globalink Investment (NASDAQ:GLLI) Trading Up 2% – Here’s Why

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

Globalink Investment Price Performance

The company has a market capitalization of $72.12 million and a price-to-earnings ratio of -52.17. The business has a fifty day moving average price of $11.48 and a 200 day moving average price of $11.36.

Hedge Funds Weigh In On Globalink Investment

An institutional investor recently bought a new position in Globalink Investment stock. K2 Principal Fund L.P. acquired a new position in shares of Globalink Investment Inc. (NASDAQ:GLLI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 filing with the Securities and Exchange Commission. Institutional investors 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.