Short Interest in Globavend Holdings Limited (NASDAQ:GVH) Drops By 68.0%

Globavend Holdings Limited (NASDAQ:GVH) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totaling 62,683 shares, a drop of 68.0% from the December 31st total of 195,961 shares. Based on an average daily volume of 254,761 shares, the short-interest ratio is currently 0.2 days. Approximately 89.5% of the company’s stock are short sold. Approximately 89.5% of the company’s stock are short sold. Based on an average daily volume of 254,761 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of Globavend

An institutional investor recently bought a new position in Globavend stock. Jane Street Group LLC acquired a new position in shares of Globavend Holdings Limited (NASDAQ:GVH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 249,145 shares of the company’s stock, valued at approximately $29,000. Jane Street Group LLC owned 355.92% of Globavend at the end of the most recent quarter.

Globavend Stock Down 4.3%

GVH stock traded down $0.06 on Thursday, hitting $1.24. 36,868 shares of the company’s stock were exchanged, compared to its average volume of 186,057. The firm has a 50 day moving average price of $2.59 and a two-hundred day moving average price of $4.48. Globavend has a 12-month low of $1.09 and a 12-month high of $364.00.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GVH shares. Zacks Research upgraded Globavend from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Globavend in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Globavend has an average rating of “Hold” and a consensus target price of $80.00.

About Globavend

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.