Globavend Holdings Limited (NASDAQ:GVH – Get Free Report) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 107,527 shares, a decline of 59.9% from the July 30th total of 268,265 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 569,618 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Trading of Globavend
Institutional investors have recently added to or reduced their stakes in the stock. Sabby Management LLC bought a new position in Globavend during the 4th quarter valued at $257,000. Connective Capital Management LLC acquired a new position in Globavend during the 4th quarter worth $253,000. Finally, Jane Street Group LLC bought a new stake in shares of Globavend in the 2nd quarter worth about $29,000.
Analysts Set New Price Targets
GVH has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globavend in a research report on Monday, August 17th. Wall Street Zen raised Globavend to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.
Globavend Stock Down 1.0%
Shares of GVH opened at $1.01 on Friday. The business’s 50 day moving average is $2.39 and its two-hundred day moving average is $2.63. Globavend has a 52-week low of $0.87 and a 52-week high of $6.46.
Globavend Company Profile
Globavend Holdings Limited, together with its subsidiaries, provides integrated cross-border logistics services and air freight forwarding services in Hong Kong, Australia, and New Zealand. The company's services include parcel consolidation, air freight forwarding, customs clearance, on-carriage parcel transportation, and delivery. It serves e-commerce merchants and operators of e-commerce platforms. The company was founded in 2016 and is based in Perth, Australia. Globavend Holdings Limited is subsidiary of Globavend Investments Limited.
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