Globalink Investment (NASDAQ:GLLI) Stock Price Down 7.5% – What’s Next?

Globalink Investment Inc. (NASDAQ:GLLI)’s stock price dropped 7.5% during mid-day trading on Thursday . The company traded as low as $11.10 and last traded at $11.10. Approximately 924 shares traded hands during trading, a decline of 53% from the average daily volume of 1,985 shares. The stock had previously closed at $12.00.

Globalink Investment Price Performance

The company’s 50 day simple moving average is $11.77 and its 200 day simple moving average is $11.50. The firm has a market cap of $66.69 million and a price-to-earnings ratio of -48.26.

Institutional Trading of 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 third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 100,000 shares of the company’s stock, valued at approximately $1,134,000. K2 Principal Fund L.P. owned approximately 1.66% of Globalink Investment at the end of the most recent quarter. 27.90% of the stock is owned by institutional investors.

About Globalink Investment

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.