Globavend Holdings Limited (NASDAQ:GVH – Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 33,602 shares, a decrease of 57.1% from the September 15th total of 78,314 shares. Based on an average daily trading volume, of 154,140 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.8% of the company’s shares are sold short.
Globavend Trading Down 1.9%
GVH traded down $0.02 on Tuesday, reaching $1.03. 25,619 shares of the company traded hands, compared to its average volume of 1,038,738. Globavend has a one year low of $0.87 and a one year high of $6.46. The firm has a fifty day simple moving average of $1.06 and a two-hundred day simple moving average of $2.63.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered Globavend from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. Wall Street Zen raised Globavend to a “sell” rating in a research report on Saturday, September 19th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Globavend has an average rating of “Reduce”.
Hedge Funds Weigh In On Globavend
An institutional investor recently bought a new position in Globavend stock. Sabby Management LLC purchased a new stake in shares of Globavend Holdings Limited (NASDAQ:GVH – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 178,645 shares of the company’s stock, valued at approximately $257,000. Globavend makes up about 0.4% of Sabby Management LLC’s portfolio, making the stock its 14th largest position. Sabby Management LLC owned about 255.21% of Globavend at the end of the most recent quarter.
Globavend Company Profile
Globavend Holdings Limited (NASDAQ: GVH) is a freight forwarding and logistics company focused on cross-border e-commerce and international shipping. The company provides transportation and supply-chain services designed to help online retailers and other customers move goods between overseas suppliers, distribution facilities and end customers.
Its services include air and ocean freight forwarding, customs clearance, warehousing, shipment handling and last-mile delivery. Globavend uses an asset-light operating model, coordinating logistics providers and transportation partners rather than relying primarily on company-owned aircraft, vessels or delivery fleets.
The company’s operations are primarily focused on Australia and New Zealand, with logistics routes connecting those markets to suppliers and destinations in Asia and other international locations.
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